EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2017

Earnings per share consisted of the following components for the years ended December 31:



	2017		2016		2015
	(Dollars in thousands, except per share data)
Net income	$	87,204	$	76,648	$	64,960

Weighted Average Shares
Basic shares	27,294,028		26,404,071		25,891,382
Effect of dilutive securities	78,076		51,847		68,566
Diluted shares	27,372,104		26,455,918		25,959,948

Net income per share
Basic EPS	$	3.19	$	2.90	$	2.51
Effect of dilutive securities	—		—		(0.01		)
Diluted EPS	$	3.19	$	2.90	$	2.50

For the year ended December 31, 2017 there were 103 options to purchase common stock and no shares of performance-based restricted stock that were excluded from the calculation of diluted earnings per share because they were anti-dilutive. There were no options to purchase common stock or shares of performance-based restricted stock that were considered anti-dilutive for the years ended December 31, 2016 and 2015.