Calculation of Earnings Per Share

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Calculation of Earnings Per Share

Calculation of Earnings Per Share

	Three Months Ended
	March 31,
	2018		2017
(in thousands, except shares and per share data)
Calculation of Basic Earnings Per Share:
Net Income	$	26,855	$	19,144
Weighted average shares outstanding	16,351,338		16,317,224
Basic Earnings Per Share	$	1.64	$	1.17
Calculation of Diluted Earnings Per Share:
Reconciliation of Numerator:
Net Income	$	26,855	$	19,144
Reconciliation of Denominator:
Weighted shares outstanding—Basic	16,351,338		16,317,224
Effect of dilutive securities—Share-based compensation	51,647		46,572
Adjusted denominator—Diluted	16,402,985		16,363,796
Diluted Earnings Per Share	$	1.64	$	1.17