Earnings Per Share

3 Months Ended

Mar. 31, 2016

(2) Earnings Per Share

The Company computes earnings per share in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share (“ASC 260”). A reconciliation of the component parts of earnings per share for the three months ended March 31, 2016 and 2015 is as follows:

(dollars in thousands, except per share data)
	2016		2015
For the three months ended
March 31:
Net income	$	10,409		10,715
Weighted average common shares		95,365		94,947
Stock Options		47		127
Weighted average common shares including potential dilutive shares		95,412		95,074

Basic EPS	$	0.109		0.113

Diluted EPS	$	0.109		0.113

For the three months ended March 31, 2016, the weighted average number of antidilutive stock options excluded from diluted earnings per share was approximately 1.6 million. For the three months ended March 31, 2015 the weighted average number of antidilutive stock options excluded from diluted earnings per share was approximately 1.4 million. The stock options are antidilutive because the strike price is greater than the average fair value of the Company’s common stock for the periods presented.