Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

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:

	2019		2018		2017
Numerator:	(in thousands, except share and per share data)
Net income	$	53,711	$	42,329	$	53,830
Denominator:
Basic weighted average shares	52,079,865		52,284,616		52,572,496
Effect of dilutive stock options and restricted stock	555,550		383,323		506,238
Diluted weighted average shares	52,635,415		52,667,939		53,078,734
Earnings per share:
Basic	$	1.03	$	0.81	$	1.02
Dilutive	$	1.02	$	0.80	$	1.01
Anti-dilutive shares:
Shares	1,868,087		1,920,313		785,825