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