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Earnings Per Share | 9 Months Ended
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Sep. 30, 2014
Earnings Per Share |
12. | Earnings Per Share
Earnings per share have been computed using the weighted average number of ordinary shares and ordinary share equivalents outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share:
(Dollars in thousands, |  | Quarters Ended September 30, |  |  | Nine Months Ended September 30, |
except share and per share data) |  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Net income |  | $ | 9,761 |  |  | $ | 6,948 |  |  | $ | 51,792 |  |  | $ | 27,977 |
Basic earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding – basic |  |  | 25,137,531 |  |  |  | 25,082,237 |  |  |  | 25,126,684 |  |  |  | 25,065,725 |
Net income per share |  | $ | 0.39 |  |  | $ | 0.28 |  |  | $ | 2.06 |  |  | $ | 1.12 |
Diluted earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding – diluted |  |  | 25,334,716 |  |  |  | 25,189,072 |  |  |  | 25,323,187 |  |  |  | 25,150,920 |
Net income per share |  | $ | 0.39 |  |  | $ | 0.28 |  |  | $ | 2.05 |  |  | $ | 1.11 |
A reconciliation of weighted average shares for basic earnings per share to weighted average shares for diluted earnings per share is as follows:
|  | Quarters Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Weighted average shares for basic earnings per share |  |  | 25,137,531 |  |  |  | 25,082,237 |  |  |  | 25,126,684 |  |  |  | 25,065,725 |
Non-vested restricted stock |  |  | 89,114 |  |  |  | 42,526 |  |  |  | 88,710 |  |  |  | 48,540 |
Options |  |  | 108,071 |  |  |  | 64,309 |  |  |  | 107,793 |  |  |  | 36,655 |
Weighted average shares for diluted earnings per share |  |  | 25,334,716 |  |  |  | 25,189,072 |  |  |  | 25,323,187 |  |  |  | 25,150,920 |
The weighted average shares outstanding used to determine dilutive earnings per share for the quarters ended September 30, 2014 and 2013 do not include 12,500 and 45,450 shares, respectively, which were deemed to be anti-dilutive. The weighted average shares outstanding used to determine dilutive earnings per share for the nine months ended September 30, 2014 and 2013 do not include 12,500 and 45,450 shares, respectively, which were deemed to be anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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