3. Income per share

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Income per share

The following is the computation for basic and diluted income per share:

	Three months ended March 31,
	2016		2015
	(in thousands, except per share amounts)
Net income	$	6,945	$	7,602
Weighted average basic shares outstanding		1,823		1,875
Add:  Effect of dilutive securities		26		20
Weighted average diluted shares outstanding		1,849		1,895

Earnings per share:
Basic	$	3.81	$	4.05
Diluted	$	3.76	$	4.01

Incremental shares from stock options and restricted stock units were included in the calculation of weighted average diluted shares outstanding using the treasury stock method. No shares of common stock for the quarters ended March 31, 2016 or March 31, 2015 were excluded from the computation of weighted average diluted shares outstanding because their effect would have been anti-dilutive.