Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2017

The following table reconciles the numerators and denominators of basic and diluted earnings per share for the periods presented:



	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except shares and per share data)	2017		2016		2017		2016
Numerator for Earnings per Share—Basic:
Net income	$	22,721	$	20,581	$	63,674	$	53,733
Less: Income allocated to participating shares	73		68		214		167
Net Income Allocated to Shareholders	$	22,648	$	20,513	$	63,460	$	53,566

Numerator for Earnings per Share—Diluted:
Net income	$	22,721	$	20,581	$	63,674	$	53,733
Net Income Available to Shareholders	$	22,721	$	20,581	$	63,674	$	53,733

Denominators for Earnings per Share:
Weighted Average Shares Outstanding—Basic	34,751,266		34,687,487		34,722,370		34,674,453
Add: Potentially dilutive shares	208,873		81,018		208,139		72,724
Denominator for Treasury Stock Method—Diluted	34,960,139		34,768,505		34,930,509		34,747,177

Weighted Average Shares Outstanding—Basic	34,751,266		34,687,487		34,722,370		34,674,453
Add: Average participating shares outstanding	111,821		114,746		116,969		108,414
Denominator for Two-Class Method—Diluted	34,863,087		34,802,233		34,839,339		34,782,867

Earnings per share—basic	$	0.65	$	0.59	$	1.83	$	1.55
Earnings per share—diluted	$	0.65	$	0.59	$	1.82	$	1.54
Warrants considered anti-dilutive excluded from potentially dilutive shares - exercise price $31.53 per share, expires January 2019	443,575		517,012		452,188		517,012
Restricted stock considered anti-dilutive excluded from potentially dilutive shares	92,577		146,695		95,707		134,983