Earnings Per Share

3 Months Ended

Mar. 31, 2017

(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, 2017 and 2016 is as follows:

(in thousands,except per share data)	For the three months ended March 31:
	2017		2016
Net income	$	10,947		10,409
Weighted average common shares		95,879		95,365
Stock Options		108		47
Weighted average common shares including potential dilutive shares		95,987		95,412

Basic EPS	$	0.114		0.109

Diluted EPS	$	0.114		0.109

For the three months ended March 31, 2017, the weighted average number of antidilutive stock options excluded from diluted earnings per share was approximately 553 thousand. 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. 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.