Calculation of Earnings Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Calculation of Earnings Per Share

Calculation of Earnings Per Share

	Three Months Ended
	March 31,
	2015		2014
(in thousands, except shares and per share data)
Calculation of Basic Earnings Per Share:
Net Income	$	21,109	$	17,681
Weighted average shares outstanding	14,604,841		14,487,646
Basic Earnings Per Share	$	1.45	$	1.22
Calculation of Diluted Earnings Per Share:
Reconciliation of Numerator:
Net Income	$	21,109	$	17,681
Reconciliation of Denominator:
Weighted shares outstanding—Basic	14,604,841		14,487,646
Effect of dilutive securities:
Share-based compensation	51,469		52,505
Adjusted denominator—Diluted	14,656,310		14,540,151
Diluted Earnings Per Share	$	1.44	$	1.22

As discussed in Note 1, Summary of Accounting Policies, previously reported share and per share amounts have been restated in the accompanying condensed consolidated financial statements and related notes to reflect the stock split effected in the form of a stock dividend.