NOTE 6 – EARNINGS PER SHARE

The computation of basic and diluted earnings per share is shown below (dollars in thousands, except share data):


	Three months ended March 31,
	2020		2019
Basic
Net income per consolidated statements of income	$	6,097	$	8,531
Less: Earnings allocated to participating securities		(65)		(135)
Net income available to common stockholders	$	6,032	$	8,396

Weighted average common shares outstanding including participating securities		8,304,205		8,281,325
Less: Weighted average participating securities		(88,246)		(130,873)
Weighted average common shares outstanding		8,215,959		8,150,452

Basic earnings per common share	$	0.73	$	1.03

Diluted
Net income allocated to common stockholders	$	6,032	$	8,396

Weighted average common shares outstanding for basic earnings per common share		8,215,959		8,150,452
Add: Dilutive effects of assumed exercise of stock options		131,159		114,740
Add: Dilutive effects of assumed vesting of performance based restricted stock and restricted stock units		65,664		20,028
Average shares and dilutive potential common shares		8,412,782		8,285,220

Dilutive earnings per common share	$	0.72	$	1.01

All stock options were considered in computing diluted earnings per common share for the three months ended March 31, 2020 and 2019.