Earnings Per Share

12 Months Ended

Dec. 31, 2015

Basic net income per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted net income per share assumes the conversion of all potentially dilutive securities and is calculated by dividing net income by the sum of the weighted average number of shares of common stock outstanding plus all potentially dilutive securities. Dilutive common shares consist primarily of stock options and restricted stock awards.

The following table sets forth the computation of basic and diluted earnings per share:



	2015		2014		2013
Numerator:	(in thousands, except share and per share data)
Net income	$	45,728	$	44,158	$	37,547
Denominator:
Basic weighted average shares	54,045,841		54,809,319		55,119,150
Effect of dilutive stock options and restricted stock	435,643		559,697		468,231
Diluted weighted average shares	54,481,484		55,369,016		55,587,381
Earnings per share:
Basic	$	0.85	$	0.81	$	0.68
Dilutive	$	0.84	$	0.80	$	0.68
Anti-dilutive shares:
Shares	146,548		32,436		206,264