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Earnings Per Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
Note 7 – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

  
Three Months Ended
 
  
March 31
 
(in thousands except per share data)
 
2015
  
2014
 
Numerator:
    
Net income
 
$
10,938
  
$
10,140
 
         
Denominator:
        
Basic earnings per share:
        
Weighted average shares
  
17,400
   
17,308
 
Diluted earnings per share:
        
Effect of dilutive stock options and restricted stock grants
  
51
   
95
 
Adjusted weighted average shares
  
17,451
   
17,403
 
         
Earnings per share:
        
Basic earnings per share
 
$
0.63
  
$
0.59
 
Diluted earnings per share
  
0.63
   
0.58
 

Options to purchase 68,063 common shares at a weighted average price of $35.409 were excluded from the diluted calculations above for the three months ended March 31, 2015, because the exercise prices on the options were greater than the average market price for the period.  In addition to in-the-money stock options, unvested restricted stock grants were also used in the calculation of diluted earnings per share based on the treasury method.  There were no options to purchase common shares that were excluded from the diluted calculations above for the three months ended March 31, 2014.