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Earnings Per Share | 12 Months Ended
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Dec. 31, 2018
Earnings Per Share [Abstract] |
Earnings Per Share |
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, 2018, 2017 and 2016 are presented below.
|  | For the Year Ended December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | (in thousands, except earnings per share amounts) |
Basic EPS: |  |  |  |  |  |  |  |  |  |  |  |
Net income – basic |  | $ | 71,632 |  |  | $ | 46,231 |  |  | $ | 77,865 |
Basic weighted-average common shares |  |  | 19,209 |  |  |  | 19,165 |  |  |  | 19,106 |
Basic earnings per share |  | $ | 3.73 |  |  | $ | 2.41 |  |  | $ | 4.08 |
Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |
Net income - diluted |  | $ | 71,632 |  |  | $ | 46,231 |  |  | $ | 77,865 |
Diluted weighted average common shares: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares |  |  | 19,209 |  |  |  | 19,165 |  |  |  | 19,106 |
Stock options and restricted stock |  |  | 84 |  |  |  | 81 |  |  |  | 98 |
Diluted weighted average common shares |  |  | 19,293 |  |  |  | 19,246 |  |  |  | 19,204 |
Diluted earnings per common share |  | $ | 3.71 |  |  | $ | 2.40 |  |  | $ | 4.05 |
The table below sets forth the reconciliation of the weighted average shares used for the basic and diluted EPS calculation.
|  | Years Ended |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Basic weighted average common shares |  |  | 19,208,978 |  |  |  | 19,165,489 |  |  |  | 19,105,806 |
Add: Other common shares eligible for common dividends: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average restricted shares and stock options (including tax benefit component) |  |  | 84,104 |  |  |  | 80,377 |  |  |  | 97,844 |
Diluted weighted average common shares |  |  | 19,293,082 |  |  |  | 19,245,866 |  |  |  | 19,203,650 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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