Earnings Per Common Share

12 Months Ended

Dec. 31, 2020

Earnings Per Common Share [Abstract]

EARNINGS PER COMMON SHARE

NOTE 17. EARNINGS PER COMMON SHARE

Basic earnings per common share is calculated by dividing net income available 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 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 for the years ended December 31, 2020 and 2019.

(In thousands, except per share data)	2020		2019
Net income from continuing operations	$	15,730	$	16,284
Net loss from discontinued operations		-		(86)
Net Income	$	15,730	$	16,198
Weighted average shares outstanding - Basic		12,380		12,725
Dilutive effect of common stock equivalents-options		1		5
Weighted average shares outstanding - Diluted		12,381		12,730
Basic and diluted earnings per common share
Income from continuing operations	$	1.27	$	1.28
Loss from discontinued operations		—		(0.01)
Net income	$	1.27	$	1.27

There were no weighted average common stock equivalents excluded from the calculation of diluted earnings per share for the years ended December 31, 2020 and 2019.