Earnings Per Share

3 Months Ended

Mar. 31, 2018

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 share and per share data)	2018		2017
Numerator for Earnings per Share—Basic:
Net income	$	26,163	$	18,188
Less: Income allocated to participating shares	80		60
Net Income Allocated to Shareholders	$	26,083	$	18,128

Numerator for Earnings per Share—Diluted:
Net income	$	26,163	$	18,188
Net Income Available to Shareholders	$	26,163	$	18,188

Denominators for Earnings per Share:
Weighted Average Shares Outstanding—Basic	34,756,726		34,690,250
Add: Potentially dilutive shares	242,439		222,011
Denominator for Treasury Stock Method—Diluted	34,999,165		34,912,261

Weighted Average Shares Outstanding—Basic	34,756,726		34,690,250
Add: Average participating shares outstanding	106,722		115,395
Denominator for Two-Class Method—Diluted	34,863,448		34,805,645

Earnings per share—basic	$	0.75	$	0.52
Earnings per share—diluted	$	0.75	$	0.52
Warrants considered anti-dilutive excluded from potentially dilutive shares - exercise price $31.53 per share, expires January 2019	400,722		447,103
Restricted stock considered anti-dilutive excluded from potentially dilutive shares	90,298		79,544