Net Income Per Share

3 Months Ended

Mar. 31, 2017

NET INCOME PER SHARE

Basic net income per share is computed by dividing net income by the weighted-average shares outstanding during the reporting period. Diluted net income per share is computed by dividing net income by the combination of all dilutive common share equivalents, comprised of shares issuable under the Corporation’s share-based compensation plans, and the weighted-average shares outstanding during the reporting period.

Dilutive common share equivalents include the dilutive effect of in-the-money share-based awards, which are calculated based on the average share price for each period using the treasury stock method. Under the treasury stock method, the exercise price of share-based awards, the amount of compensation expense, if any, for future service that the Corporation has not yet recognized, are assumed to be used to repurchase common stock in the current period.

The following table reconciles basic and diluted net income per share for the three months ended March 31, 2017 and 2016.



	Three Months Ended March 31,
	2017					2016
	Net Income		Weighted-Average Shares	Per Share Amount		Net Income		Weighted-Average Shares	Per Share Amount
Net income available to common stockholders	23,193		40,984,481	$	0.57	17,693		40,690,573	$	0.43
Effect of dilutive stock options and warrants			236,105					226,399
Diluted net income per share	$	23,193	41,220,586	$	0.56	$	17,693	40,916,972	$	0.43

For the three months ended March 31, 2017, there were no stock options with an option price greater than the average market price of the common stock. Stock options to purchase 153,721 shares for the three months ended March 31, 2016 were excluded from the computation of diluted net income per share because the options exercise price was greater than the average market price of the common stock.