(

) Earnings per Common Share

Basic and diluted earnings per common share were computed as follows:

	Three Months
	Ended March 31,
(In thousands, except per share amounts)	2018		2017
Numerator:
Net income	$	10,331	$	8,214
Denominator:
Basic earnings per common share - weighted-average shares		54,572		54,426
Effect of dilutive stock options		523		312
Diluted earnings per common share - weighted-average shares and assumed conversions		55,095		54,738

Basic earnings per common share	$	0.19	$	0.15
Diluted earnings per common share	$	0.19	$	0.15

Options totaling

16,000

and

381,667

equivalent shares for the

three

-month periods ended

March 31, 2018

and

2017,

respectively, were outstanding but were

not

included in the calculation of diluted earnings per share because including the options in the denominator would be antidilutive, or decrease the number of weighted-average shares, due to their exercise prices exceeding the average market price of the common shares, or because inclusion of average unrecognized compensation expense in the calculation would cause the options to be antidilutive.

Unvested performance unit awards totaling

126,350

and

41,400

equivalent shares for the

three

-month periods ended

March 31, 2018

and

2017,

respectively, were considered outstanding but were

not

included in the calculation of diluted earnings per share because inclusion of average unrecognized compensation expense in the calculation would cause the performance units to be antidilutive.