Note 4 - Earnings Per Share

9 Months Ended

Sep. 30, 2015

4 – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share information):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Numerator:
Numerator for basic and diluted earnings per share – Net income available to common shareholders	$	19,883	$	23,478	$	56,240	$	55,330

Denominator–
Denominator for basic earnings per share – weighted average shares outstanding		40,361		40,008		40,235		39,700
Effect of dilutive securities– Employee and director stock options and restricted share awards		775		1,083		830		1,120
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions		41,136		41,091		41,065		40,820
Basic earnings per common share	$	.49	$	.59	$	1.40	$	1.39
Diluted earnings per common share and common share equivalents	$	.48	$	.57	$	1.37	$	1.36

Options to purchase shares of common stock that were outstanding for the three months and nine months ended September 30, 2015 and 2014 that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive are as follows (in thousands):

	Three Months Ended September 30,				Nine months Ended September 30,
	2015		2014		2015		2014
Anti-dilutive options		1,328		395		1,139		516