Basic and diluted net income per common share

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Basic and diluted net income per common share

Basic and diluted net income per common share

The Company’s basic net income per common share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. The Company’s diluted net income per common share is computed by dividing net income by the weighted-average number of common shares outstanding plus any incremental shares arising from the dilutive effect of stock-based compensation.

The numerators and denominators used in computing basic and diluted net income per common share for the years ended December 31, 2015, 2014 and 2013 can be reconciled as follows (dollars in thousands, except per share data):

	2015		2014		2013
Net income	$	20,579	$	3,737	$	50,845
Weighted-average shares outstanding - basic	71,788,827		62,265,230		47,186,756
Dilutive securities	179,926		74,640		296,956
Weighted-average shares outstanding - diluted	71,968,753		62,339,870		47,483,712
Common stock equivalent shares excluded due to antidilutive effect	3,361,624		85,901		64,171
Basic and diluted:
Net income per common share (basic)	$	0.29	$	0.06	$	1.08
Net income per common share (diluted)	$	0.29	$	0.06	$	1.07