Earnings Per Share

9 Months Ended

Sep. 30, 2015

The following table sets forth the reconciliation from basic to diluted average common shares and the calculations of net income per common share. Net income for basic and diluted calculations do not differ.



	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands, except per share)	2015		2014		2015		2014
Net Income	$	14,756	$	13,367	$	31,825	$	29,800
Average Common Shares:
Basic (weighted-average outstanding shares)	11,380		12,050		11,337		12,077
Dilutive potential common shares from stock options	116		156		140		174
Diluted (weighted-average outstanding shares)	11,496		12,206		11,477		12,251

Basic earnings per share	$	1.30	$	1.11	$	2.81	$	2.47
Diluted earnings per share	$	1.28	$	1.10	$	2.77	$	2.43

Stock options totaling 51,909 shares for the nine months ended September 30, 2015 were not included in the diluted earnings per share calculation because the effect would have been anti-dilutive.

The main difference between diluted common shares for the periods ending September 30, 2015 and September 30, 2014 are the shares the Company retired in September 2014 relating to the stock repurchase of 849,690 shares.