Income Per Common Share

3 Months Ended

Mar. 31, 2017

NOTE 12 –INCOME PER COMMON SHARE

Basic net income per share is calculated by dividing net income by the weighted average shares outstanding during the period, without consideration for common stock equivalents.

Diluted net income per share is calculated by adjusting weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury stock method. Potential common stock is included in the diluted income per share calculation when dilutive. Diluted net income per share was as follows (in thousands, except share and per share data):


	For the three months ended March 31,
	2017		2016
Net income - basic and diluted	$	6,364	$	5,813

Weighted average number of common shares outstanding		31,590,478		31,242,237
Dilutive effect of outstanding common stock awards after application of the Treasury Stock Method		96,578		88,734

Diluted shares outstanding		31,687,056		31,330,971
Basic and diluted net income per share	$	0.20	$	0.19

None of the non-vested common stock awards had an antidilutive effect on diluted net income per share for either of the three months ended March 31, 2017 or 2016.