Earnings Per Share

For the quarters and six months ended June 30, 2017 and 2016, basic earnings per share were computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Unexercised stock options and unvested restricted shares are excluded from this calculation but are included in the diluted earnings per share calculation using the treasury stock method as long as their effect is not antidilutive.

The following table provides a reconciliation of weighted-average shares used to determine basic and diluted earnings per share.



	Quarter Ended June 30,		Six Months Ended June 30,
In thousands	2017	2016	2017	2016
Basic average common shares outstanding	17,044	16,864	17,014	16,844
Effect of dilutive options and restricted stock awards	218	210	258	192
Diluted average common shares outstanding	17,262	17,074	17,272	17,036

For each of the quarters ended June 30, 2017 and 2016, stock options for 38,280 shares and 121,745 shares of Common Stock were not considered in computing diluted earnings per common share because they were antidilutive.

For the six months ended June 30, 2017 and 2016, stock options for 38,280 shares and 199,375 shares of common stock, respectively, were not considered in computing diluted earnings per share because they were antidilutive.