Earnings Per Share

3 Months Ended

Mar. 31, 2020

Basic earnings per common share is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding and dilutive common share equivalents using the treasury stock method. Dilutive common share equivalents include common shares issuable upon exercise of outstanding stock options and restricted stock. The effect from the stock options and restricted stock on incremental shares from the assumed conversions for net income per share-basic and net income per share-diluted are presented below. There were 64 thousand antidilutive shares for the period ended March 31, 2020, and none for the period ended March 31, 2019.


	Three Months Ended March 31,
	2020		2019
Basic earnings per share computation:
Net income available to common stockholders	$	2,732	$	4,731
Average common shares outstanding - basic	14,395,103		13,942,016
Basic earnings per share	$	0.19	$	0.34

Diluted earnings per share computation:
Net income available to common stockholders	$	2,732	$	4,731
Average common shares outstanding - basic	14,395,103		13,942,016
Incremental shares from assumed conversions:
Stock options and restricted stock	84,568		76,147
Average common shares outstanding - diluted	14,479,671		14,018,163
Diluted earnings per common share	$	0.19	$	0.34