| Computation of Basic and Diluted Earnings Per Share |
The following table sets forth the Company’s unaudited earnings per share calculations for the periods indicated:
|
|
Quarter Ended
September 30, 2017 |
|
|
Quarter Ended
September 30, 2016 |
|
|
(dollars in thousands, except per share amounts) |
Basic |
|
|
Diluted |
|
|
Basic |
|
|
Diluted |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ |
9,580 |
|
|
$ |
9,580 |
|
|
$ |
9,058 |
|
|
$ |
9,058 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic common shares outstanding |
|
34,565,949 |
|
|
|
34,565,949 |
|
|
|
32,514,016 |
|
|
|
32,514,016 |
|
|
Effect of contingent shares issuable |
|
|
|
|
|
1,592 |
|
|
|
|
|
|
|
1,592 |
|
|
Effect of options and restricted stock |
|
|
|
|
|
692,091 |
|
|
|
|
|
|
|
1,060,286 |
|
|
Diluted common shares outstanding |
|
|
|
|
|
35,259,632 |
|
|
|
|
|
|
|
33,575,894 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share |
$ |
0.28 |
|
|
$ |
0.27 |
|
|
$ |
0.28 |
|
|
$ |
0.27 |
|
|
|
Nine Months Ended
September 30, 2017 |
|
|
Nine Months Ended
September 30, 2016 |
|
|
(dollars in thousands, except per share amounts) |
Basic |
|
|
Diluted |
|
|
Basic |
|
|
Diluted |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ |
25,309 |
|
|
$ |
25,309 |
|
|
$ |
16,786 |
|
|
$ |
16,786 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic common shares outstanding |
|
33,671,327 |
|
|
|
33,671,327 |
|
|
|
32,264,224 |
|
|
|
32,264,224 |
|
|
Effect of contingent shares issuable |
|
|
|
|
|
1,592 |
|
|
|
|
|
|
|
1,592 |
|
|
Effect of options and restricted stock |
|
|
|
|
|
926,894 |
|
|
|
|
|
|
|
1,099,798 |
|
|
Diluted common shares outstanding |
|
|
|
|
|
34,599,813 |
|
|
|
|
|
|
|
33,365,614 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share |
$ |
0.75 |
|
|
$ |
0.73 |
|
|
$ |
0.52 |
|
|
$ |
0.50 |
|
|