Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

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

	Three Months Ended					Six Months Ended
	June 30, 2016			June 30, 2015		June 30, 2016			June 30, 2015
Numerator:
Net income	$	10,421		$	5,946	$	29,009		$	11,941
Less:  income allocable to participating securities		(129	)		-		(360	)		-
Income allocable to common shares	$	10,292		$	5,946	$	28,649		$	11,941
Add back:  undistributed earnings allocable to participating securities	$	129		$	-	$	360		$	-
Less:  undistributed earnings reallocated to participating securities		(126	)		-		(360	)		-
Numerator for diluted earnings per share	$	10,295		$	5,946	$	28,649		$	11,941
Denominator:
Weighted average common shares outstanding		50,315,455			50,315,455		50,315,455			50,315,455
Weighted average common shares repurchased		(19,969	)		-		(9,985	)		-
Adjustment for  vested restricted stock		7,296,070			6,722,566		7,056,762			5,584,851
Shares for calculating basic earnings per share		57,591,556			57,038,021		57,362,232			55,900,306
Dilutive effect of unvested restricted stock		1,105,673			1,331,062		1,344,981			1,569,612
Shares for calculating diluted earnings per share		58,697,229			58,369,083		58,707,213			57,469,918
Earnings per share:
Basic	$	0.18		$	0.10	$	0.50		$	0.21
Diluted	$	0.18		$	0.10	$	0.49		$	0.21