NOTE 17. EARNINGS PER COMMON SHARE

Basic earnings per common share is calculated by dividing net income available to (allocable to) common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated by dividing net income available to (allocable to) common stockholders by the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents (stock-based awards). The following table provides information relating to the calculation of earnings per common share.


(In thousands, except per share data)	2019		2018
Net income from continuing operations	$	16,284	$	15,763
Net (loss) income from discontinued operations		(86)		9,234
Net Income	$	16,198	$	24,997
Weighted average shares outstanding - Basic		12,725		12,739
Dilutive effect of common stock equivalents-options		5		12
Dilutive effect of common stock equivalents-restricted stock units		—		2
Weighted average shares outstanding - Diluted		12,730		12,753

Basic earnings per common share
Income from continuing operations	$	1.28	$	1.24
(Loss) income from discontinued operations		(0.01)		0.72
Net income	$	1.27	$	1.96

Diluted earnings per common share
Income from continuing operations	$	1.28	$	1.24
(Loss) income from discontinued operations		(0.01)		0.72
Net income	$	1.27	$	1.96

For all periods presented, the calculations of diluted income per common share excluded no weighted average common stock equivalents because the effect of including them would have anti-dilutive.