Net Income Per Common Share (Tables)

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Computation of basic and diluted net income per common share:

The computation of basic and diluted net income per common share (in thousands, except for per share data) is as follows:

	Three months ended March 31,
	2021		2020
Net income	$	3,456	$	7,961
Less: net income allocated to participating securities	204		321
Net income available to common shareholders	$	3,252	$	7,640
Weighted average common shares outstanding — basic	7,985,000		7,882,000
Effect of dilutive securities	7,000		—
Weighted average common and potentially issuable common shares outstanding — diluted	7,992,000		7,882,000
Basic net income per common share	$	0.41	$	0.97
Diluted net income per common share	$	0.41	$	0.97

The computation of basic and diluted net income per participating shares is as follows (in thousands, except for per share data):

	Three months ended March 31,
	2021		2020
Net income allocated to participating securities	$	204	$	321
Weighted average participating shares outstanding — basic	500,000		338,000
Effect of dilutive securities	—		—
Weighted average common and potentially issuable common shares outstanding — diluted	500,000		338,000
Basic net income per participating share	$	0.41	$	0.97
Diluted net income per participating share	$	0.41	$	0.97