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Earnings Per Share (Tables)
3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Net Income Per Share

The following is a reconciliation of net income and the shares of common stock used in the computation of basic and diluted net income per share (dollars in thousands):

 

 

Three Months Ended

 

 

 

March 31, 2015

 

 

March 31, 2014

 

Numerator:

 

 

 

 

 

 

 

 

Net income

 

$

5,995

 

 

$

1,060

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

50,315,455

 

 

 

45,721,584

 

Adjustment for weighted average vested restricted stock

 

 

4,434,496

 

 

 

 

Shares for calculating basic EPS

 

 

54,749,951

 

 

 

45,721,584

 

Dilutive effect of unvested restricted stock

 

 

1,812,710

 

 

 

2,649,585

 

Shares for calculating diluted EPS

 

 

56,562,661

 

 

 

48,371,169

 

Net income per share:

 

 

 

 

 

 

 

 

Basic

 

$

0.11

 

 

$

0.02

 

Diluted

 

$

0.11

 

 

$

0.02