Net Income Per Share

6 Months Ended

Jun. 30, 2017

NET INCOME PER SHARE

Basic net income per share has been computed by dividing net income by the basic number of weighted average shares outstanding. Diluted net income per share has been computed by dividing net income by the diluted number of weighted average shares outstanding using the treasury stock method. The share effect is as follows:



	For the Three Months Ended June 30,		For the Six Months Ended June 30,
	2017	2016	2017	2016
Weighted average shares outstanding:
Common shares	19,201,560	20,159,197	19,341,193	20,094,542
Vested restricted stock units	256,595	220,360	248,400	312,837
Basic number of weighted average shares outstanding	19,458,155	20,379,557	19,589,593	20,407,379
Dilutive effect of restricted stock and restricted stock units	5,366	3,247	26,256	26,145
Dilutive number of weighted average shares outstanding	19,463,521	20,382,804	19,615,849	20,433,524

For the three months ended June 30, 2017 and June 30, 2016, there were no shares of restricted stock or restricted stock units that would have been anti-dilutive. For the six months ended June 30, 2017 and June 30, 2016, there were 8,439 and 7,426 shares of restricted stock, respectively, that were not included in the computation of diluted net income per share because their inclusion would have been anti-dilutive.