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EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2018

4.	EARNINGS PER SHARE

Basic and diluted earnings per share are computed by dividing net income by the weighted average number of shares outstanding during the respective periods. In addition, the Company has periodically issued share-based payment awards that contain non-forfeitable rights to dividends and are therefore considered participating securities. The following table shows the restricted shares of common stock (participating securities) outstanding and a reconciliation of outstanding weighted average shares:

	Three months ended September 30						Nine months ended September 30
(In thousands)	2018			2017			2018			2017
Net income available for stockholders:	$	7,161		$	4,564		$	23,760		$	15,944
Less: Adjustments for earnings attributable to participating securities		(194	)		(136	)		(658	)		(498	)
Net income used in calculating earnings per share	$	6,967		$	4,428		$	23,102		$	15,446

Weighted average shares outstanding (including participating securities)		34,539			34,829			34,563			34,898
Adjustment for participating securities		(950	)		(1,056	)		(979	)		(1,101	)
Shares used in calculating basic and diluted earnings per share		33,589			33,773			33,584			33,797