13.	Earnings Per Share

Diluted earnings per share includes common shares assumed issued under the “treasury stock method,” which reflects the potential dilution that would occur if any outstanding options are exercised. Diluted earnings per share also includes the “if converted” method for participating securities if the result is dilutive.

The calculation of basic and diluted EPS for the years ended December 31, 2017, 2016 and 2015 are presented below.

	For the Year Ended December 31,
	2017		2016		2015
	(in thousands, except earnings per share amounts)
Basic EPS:
Net income available to common shareholders – basic	$	46,231	$	77,865	$	70,462
Basic weighted-average common shares		19,165		19,106		18,941
Basic earnings per share	$	2.41	$	4.08	$	3.72
Diluted EPS:
Net income available to common shareholders - diluted	$	46,231	$	77,865	$	70,462
Diluted weighted average common shares:
Weighted average common shares		19,165		19,106		18,941
Stock options and restricted stock		81		98		178
Diluted weighted average common shares		19,246		19,204		19,119
Diluted earnings per common share	$	2.40	$	4.05	$	3.69

The table below sets forth the reconciliation of the weighted average shares used for the basic and diluted EPS calculation.

	Years Ended
	2017		2016		2015
Basic weighted average common shares		19,165,489		19,105,806		18,941,077
Add: Other common shares eligible for common dividends:
Weighted average restricted shares and stock options (including tax benefit component)		80,377		97,844		178,109
Diluted weighted average common shares		19,245,866		19,203,650		19,119,186