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Earnings Per Share Reconciliation
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share Reconciliation
8. EARNINGS PER SHARE RECONCILIATION

Basic earnings per common share are computed by dividing income allocated to common stockholders by the weighted-average number of common shares outstanding during each period. The computation of diluted earnings per common share considers the number of tax-effected shares issuable upon the assumed exercise of outstanding common stock options. Antidilutive common shares are not included in the calculation of diluted earnings per common share. For the three and nine months ended September 30, 2016, shares deemed to be antidilutive, and thus excluded from the computation of earnings per common share were 299,000 and 281,000, respectively. For the three and nine months ended September 30, 2015, shares deemed to be antidilutive, and thus excluded from the computation of earnings per common share were 251,000 and 234,000, respectively.

The table below shows earnings per common share and diluted earnings per common share, and reconciles the numerator and denominator of both earnings per common share calculations.

 

                                                                                       
       For the Three Months  
Ended September 30,		      For the Nine Months   
Ended September 30,
     2016    2015    2016    2015
     (In thousands, except per share amounts)

Earnings per common share:

            

Net earnings

      $ 25,448         $ 27,886         $ 74,353         $ 70,532   

Less: Net earnings allocated to restricted stock

      98         149         305         371   
  

 

 

 

   

 

 

 

   

 

 

 

   

 

 

 

Net earnings allocated to common shareholders

      $ 25,350         $ 27,737         $ 74,048         $ 70,161   
  

 

 

 

   

 

 

 

   

 

 

 

   

 

 

 

Weighted average shares outstanding

      108,984         105,783         107,144         105,672   

Basic earnings per common share

      $ 0.23         $ 0.26         $ 0.69         $ 0.66   
  

 

 

 

   

 

 

 

   

 

 

 

   

 

 

 

Diluted earnings per common share:

            

Net income allocated to common shareholders

      $ 25,350         $ 27,737         $ 74,048         $ 70,161   
  

 

 

 

   

 

 

 

   

 

 

 

   

 

 

 

Weighted average shares outstanding

      108,984         105,783         107,144         105,672   

Incremental shares from assumed exercise of outstanding options

      386         498         403         467   
  

 

 

 

   

 

 

 

   

 

 

 

   

 

 

 

Diluted weighted average shares outstanding

      109,370         106,281         107,547         106,139   

Diluted earnings per common share

      $ 0.23         $ 0.26         $ 0.69         $ 0.66