Earnings Per Share

12 Months Ended

Dec. 31, 2016

Earnings Per Share

18. Earnings Per Share

Earnings per share have been computed using the weighted average number of ordinary shares and ordinary share equivalents outstanding during the period.

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

	Years Ended December 31,
(Dollars in thousands, except share and per share data)	2016		2015		2014
Net income	$	49,868	$	41,469	$	62,856
Basic earnings per share:
Weighted average shares outstanding—basic		17,246,717		24,253,657		25,131,811
Net income per share	$	2.89	$	1.71	$	2.50
Diluted earnings per share:
Weighted average shares outstanding—diluted		17,547,061		24,505,851		25,331,420
Net income per share	$	2.84	$	1.69	$	2.48

A reconciliation of weighted average shares for basic earnings per share to weighted average shares for diluted earnings per share is as follows:

	Years Ended December 31,
	2016		2015		2014
Weighted average shares for basic earnings per share		17,246,717		24,253,657		25,131,811
Non-vested restricted stock		187,526		148,669		100,546
Options		112,818		103,525		99,063
Weighted average shares for diluted earnings per share		17,547,061		24,505,851		25,331,420

The weighted average shares outstanding used to determine dilutive earnings per share for the years ended December 31, 2016, 2015 and 2014 do not include 300,000, 500,000, and 312,500 options, respectively, which were deemed to be anti-dilutive.

The following table summarizes options which are deemed to be anti-dilutive at December 31, 2016:

Grant Date	Expiration Date		Outstanding Options		Strike Price
February 9, 2014		February 9, 2024		300,000	$	32.38
				300,000