Calculation of Earnings Per Share

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Calculation of Earnings Per Share

Calculation of Earnings Per Share

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
(in thousands, except shares and per share data)
Calculation of Basic Earnings Per Share:
Net Income	$	5,119	$	3,180	$	32,521	$	25,995
Weighted average shares outstanding	15,258,819		14,574,678		15,035,569		14,539,841
Basic Earnings Per Share	$	0.34	$	0.22	$	2.16	$	1.79
Calculation of Diluted Earnings Per Share:
Reconciliation of Numerator:
Net Income	$	5,119	$	3,180	$	32,521	$	25,995
Reconciliation of Denominator:
Weighted shares outstanding—Basic	15,258,819		14,574,678		15,035,569		14,539,841
Effect of dilutive securities:
Share-based compensation	48,024		41,987		48,072		48,289
Adjusted denominator—Diluted	15,306,843		14,616,665		15,083,641		14,588,130
Diluted Earnings Per Share	$	0.33	$	0.22	$	2.16	$	1.78