Earnings Per Share

3 Months Ended

Mar. 31, 2017

The following table reconciles the numerators and denominators of basic and diluted earnings per share for the periods presented:



	Three Months Ended March 31,
(in thousands, except shares and per share data)	2017		2016
Numerator for Earnings per Share—Basic:
Net income	$	18,188	$	16,093
Less: Income allocated to participating shares	60		41
Net Income Allocated to Shareholders	$	18,128	$	16,052

Numerator for Earnings per Share—Diluted:
Net income	$	18,188	$	16,093
Net Income Available to Shareholders	$	18,188	$	16,093

Denominators for Earnings per Share:
Weighted Average Shares Outstanding—Basic	34,690,250		34,661,016
Add: Potentially dilutive shares	222,011		78,498
Denominator for Treasury Stock Method—Diluted	34,912,261		34,739,514

Weighted Average Shares Outstanding—Basic	34,690,250		34,661,016
Add: Average participating shares outstanding	115,395		88,265
Denominator for Two-Class Method—Diluted	34,805,645		34,749,281

Earnings per share—basic	$	0.52	$	0.46
Earnings per share—diluted	$	0.52	$	0.46
Warrants considered anti-dilutive excluded from potentially dilutive shares - exercise price $31.53 per share, expires January 2019	447,103		517,012
Restricted stock considered anti-dilutive excluded from potentially dilutive shares	79,544		81,840