Year Ended December 31,

2020

2019

Basic

Net income per consolidated statements of income

$

39,466

$

30,134

Less: Earnings allocated to participating securities

(344)

(448)

Net income available to common stockholders

$

39,122

$

29,686

Weighted average common shares outstanding including participating securities

8,293,677

8,297,478

Less: Weighted average participating securities

(72,248)

(123,336)

Weighted average common shares outstanding

8,221,429

8,174,142

Basic earnings per common share

4.76

3.63

Diluted

Net income allocated to common stockholders

$

39,122

$

29,686

Weighted average common shares outstanding for basic earnings per common share

8,221,429

8,174,142

Add: Dilutive effects of assumed exercise of stock options

103,463

125,085

Add: Dilutive effects of assumed vesting of performance based restricted stock

73,552

39,914

Add: Dilutive effects of assumed vesting of restricted stock units

-

Average shares and dilutive potential common shares

8,398,444

8,339,141

Dilutive earnings per common share

$

4.66

$

3.56