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EARNINGS PER SHARE | 12 Months Ended
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Dec. 31, 2015
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE Earnings per share for the years ended December 31, were as follows:
(In thousands, except per share data) | 2015 |  | 2014 |  | 2013
Net income | $ | 7,874 |  |  | $ | 29,142 |  |  | $ | 10,004 |
Weighted average shares outstanding | 8,107 |  |  | 8,110 |  |  | 8,093 |
Impact of common stock equivalents | 35 |  |  | 6 |  |  | 0 |
Weighted average shares outstanding (diluted) | 8,142 |  |  | 8,116 |  |  | 8,093 |
Per share information: |  |  |  |  |
Basic earnings per share | $ | 0.97 |  |  | $ | 3.59 |  |  | $ | 1.24 |
Diluted earnings per share | 0.97 |  |  | 3.59 |  |  | 1.24 |
Stock options of 109,000, 178,000 and 207,000 for the years ended December 31, 2015, 2014 and 2013 have been excluded from diluted earnings per share calculations, as their exercise would have been anti-dilutive, as the exercise price exceeded the average market price. The common stock equivalents in 2015 and 2014 are related to restricted stock awards.

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