EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2016

Basic earnings per common share is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding for the applicable period. Diluted earnings per share is computed based on the weighted average number of shares outstanding plus the effect of any dilutive shares of restricted stock granted to employees and non-employee directors. There were approximately 2,453 and 306 anti-dilutive restricted shares for the three months ended September 30, 2016 and 2015, respectively, and 2,301 and 4,750 anti-dilutive restricted shares for the nine months ended September 30, 2016 and 2015, respectively.

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share and share amounts):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Net income	$	5,887	$	7,013	$	15,070	$	22,418
Weighted average shares outstanding - basic	7,995,680		7,808,239		7,952,938		7,737,608
Dilutive potential shares from unvested restricted shares	184,276		185,139		259,530		316,253
Dilutive potential shares from contingent consideration	—		43,702		—		22,194
Weighted average shares outstanding - diluted	8,179,956		8,037,080		8,212,468		8,076,055
Earnings per share:
Basic	$	0.74	$	0.90	$	1.89	$	2.90
Diluted	$	0.72	$	0.87	$	1.84	$	2.78