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EARNINGS PER SHARE (Tables)
 6 Months Ended
Jun. 30, 2015
EARNINGS PER SHARE  
Schedule of computation of basic and diluted earnings per share

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30

 

June 30

 

 

 

2015

 

2014

 

2015

 

2014

 

 

 

(in thousands, except share and per share data)

 

Basic

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income

 

$
19,967

 

$
17,208

 

$
20,712

 

$
12,015

 

Effect of unvested restricted stock unit awards

 
(207

)
(848

)
(231

)
(602

)

 

 

 

 

 

 

 

 

 

 

Adjusted net income

 

$
19,760

 

$
16,360

 

$
20,481

 

$
11,413

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average shares

 
26,021,874

 
26,005,105

 
26,036,375

 
25,941,370

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share

 

$
0.76

 

$
0.63

 

$
0.79

 

$
0.44

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income

 

$
19,967

 

$
17,208

 

$
20,712

 

$
12,015

 

Effect of unvested restricted stock unit awards

 
(203

)
(848

)
(227

)
(602

)

 

 

 

 

 

 

 

 

 

 

Adjusted net income

 

$
19,764

 

$
16,360

 

$
20,485

 

$
11,413

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average shares

 
26,021,874

 
26,005,105

 
26,036,375

 
25,941,370

 

Effect of dilutive securities

 
571,577

 

—

 
556,240

 
676

 

 

 

 

 

 

 

 

 

 

 

Adjusted weighted-average shares and assumed conversions

 
26,593,451

 
26,005,105

 
26,592,615

 
25,942,046

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share

 

$
0.74

 

$
0.63

 

$
0.77

 

$
0.44