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Earnings Per Share
 12 Months Ended
Dec. 31, 2013
Earnings Per Share  
Earnings Per Share

15. Earnings Per Share

        The Company computes earnings per share using the two-class method, an earnings allocation formula that determines earnings per share for common stock and participating securities according to dividends declared and participation rights in undistributed earnings, when that method results in a more dilutive effect than the Treasury method. The Company's unvested grants of restricted stock contain non-forfeitable rights to dividends, should any be declared, and are treated as participating securities and included in the computation of earnings per share.

        Net income available to common shareholders and the weighted average number of common shares used to compute basic and diluted earnings per share was as follows:

 
   For the Year Ended December 31,  
(in thousands, except per share data)
   2013   2012   2011  

Numerator:

                    

Net income

   $ 34,759   $ 34,262   $ 18,298  

Less: Net income allocated to participating securities

     (336 )   (282 )   (97 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income available to common shareholders

   $ 34,423   $ 33,980   $ 18,201  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Denominator:

                    

Weighted average common shares outstanding

     20,821     20,391     20,151  

Weighted average dilutive securities

     610     781     842  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Weighted average common shares outstanding, diluted

     21,431     21,172     20,993  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Income per common share, basic

   $ 1.65   $ 1.67   $ 0.90  

Income per common share, diluted

   $ 1.61   $ 1.60   $ 0.87  

        For the years ended December 31, 2013, 2012 and 2011, common equivalents related to 219,981, 229,128, and 89,240, respectively, of outstanding stock options were excluded from the diluted earnings per share calculation because the inclusion of such shares would either be anti-dilutive or the exercise prices of those stock options were greater than the average market price of the Company's common stock for the period. Additionally, for the years ended December 31, 2013, 2012 and 2011, common equivalents related to 0, 9,718 and 51,879, respectively, of outstanding performance shares were excluded from the diluted earnings per share calculation because the underlying performance obligation was not met as of the end of the period.