EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2017

Earnings Per Share

Earnings Per Share

Note 2–Earnings Per Share

Basic earnings per common share is computed using the weighted average number of shares outstanding.  Diluted earnings per share is computed using the weighted average number of shares outstanding adjusted for the incremental shares attributable to nonvested stock units and stock options outstanding, if dilutive.

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

	Three Months Ended				Nine Months Ended
September 30,	2017		2016		2017		2016
Numerator:
Net income	$	13,117	$	13,593	$	34,134	$	35,114
Denominator:
Denominator for basic earnings per share		26,802		26,542		26,754		26,514
Dilutive effect of employee stock awards		97		194		132		185
Denominator for diluted earnings per share		26,899		26,736		26,886		26,699
Earnings per share:
Basic	$	0.49	$	0.51	$	1.28	$	1.32
Diluted	$	0.49	$	0.51	$	1.27	$	1.32

For the three and nine months ended September 30, 2017 and 2016, the following outstanding nonvested stock units were excluded from the computation of diluted earnings per share because including them would have had an anti-dilutive effect:

	Three Months Ended				Nine Months Ended
September 30,	2017		2016		2017		2016
Employee stock based awards	$	—	$	—	$	—	$	80