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CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS PER SHARE (EPS)
 9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS PER SHARE (EPS)
CALCULATION OF WEIGHTED AVERAGE SHARES OUTSTANDING FOR EARNINGS PER SHARE (EPS)

The following table reconciles basic to diluted weighted shares outstanding used to calculate earnings per share data (in thousands, except shares and per share data):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017

 
2016

 
2017

 
2016

Net income
$
25,077

 
$
23,851

 
$
74,324

 
$
62,581

 
 
 


 


 


Basic weighted average shares outstanding
32,982,532

 
34,045,225

 
32,966,214

 
34,050,459

Plus unvested restricted stock
96,567

 
79,386

 
94,958

 
54,416

Diluted weighted shares outstanding
33,079,099

 
34,124,611

 
33,061,172

 
34,104,875

Earnings per common share
 

 
 

 
 

 
 

Basic
$
0.76

 
$
0.70

 
$
2.25

 
$
1.84

Diluted
$
0.76

 
$
0.70

 
$
2.25

 
$
1.83



As of September 30, 2017, warrants expiring on November 21, 2018 to purchase up to $18.6 million (243,998 shares, post reverse-split) of common stock were not included in the computation of diluted earnings per share because the exercise price of the warrants was greater than the average market price of common shares.