Earnings per Share

12 Months Ended

Dec. 31, 2015

Earnings Per Share, Basic and Diluted [Abstract]

The Corporation uses the two-class method to calculate earnings per share as the unvested restricted stock issued under the Corporation's equity incentive plans are participating shares with nonforfeitable rights to dividends. Under the two-class method, earnings per common share are computed by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding for the period. In applying the two-class method, undistributed earnings are allocated to both common shares and participating securities based on the number of weighted average shares outstanding during the period.

The following table sets forth the computation of basic and diluted earnings per share:



	For the Years Ended December 31,
(Dollars and shares in thousands)	2015			2014			2013
Numerator:
Net income	$	27,268		$	22,231		$	21,189
Net income allocated to unvested restricted stock	(204		)	(245		)	(237		)
Net income allocated to common shares	$	27,064		$	21,986		$	20,952
Denominator:
Denominator for basic earnings per share—weighted-average shares outstanding	19,491			16,056			16,420
Effect of dilutive securities—employee stock options	31			23			6
Denominator for diluted earnings per share—adjusted weighted-average shares outstanding	19,522			16,079			16,426
Basic earnings per share	$	1.39		$	1.37		$	1.28
Diluted earnings per share	$	1.39		$	1.37		$	1.28
Average anti-dilutive options and awards excluded from computation of diluted earnings per share	558			559			600