Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Earnings Per Share Reconciliation

The following table shows: 1) weighted average basic shares, 2) potentially dilutive weighted average common shares related to stock options, unvested restricted stock awards and stock warrant, and 3) weighted average diluted shares. Basic earnings per share (“EPS”) are calculated by dividing net income by the weighted average number of common shares outstanding during each period, excluding unvested restricted stock awards. Diluted EPS are calculated using the weighted average number of potentially dilutive common shares, which is based on average market prices during the three months of the reporting period, under the treasury stock method. The number of potentially dilutive common shares included in year-to-date diluted EPS is a year-to-date weighted average of potentially dilutive common shares included in each quarterly diluted EPS computation. We have two forms of our outstanding common stock: common stock and unvested restricted stock awards. Holders of unvested restricted stock awards receive non-forfeitable dividends at the same rate as common shareholders and they both share equally in undistributed earnings. Therefore, under the two-class method, the difference in EPS is not significant for these participating securities.



	Three months ended				Nine months ended
(in thousands, except per share data)	September 30, 2016		September 30, 2015		September 30, 2016		September 30, 2015
Weighted average basic shares outstanding	6,083		5,963		6,070		5,943
Potentially dilutive common shares related to:
Stock options	27		35		30		41
Unvested restricted stock awards	7		5		6		5
Warrant	—		64		—		70
Weighted average diluted shares outstanding	6,117		6,067		6,106		6,059
Net income	$	6,964	$	4,773	$	17,447	$	13,516
Basic EPS	$	1.14	$	0.80	$	2.87	$	2.27
Diluted EPS	$	1.14	$	0.79	$	2.86	$	2.23
Weighted average anti-dilutive shares not included in the calculation of diluted EPS	71		42		65		35