Basic net income per common share available to common stockholders is calculated as net income less preferred stock dividends divided by the weighted average number of common shares outstanding. Diluted net income per common share available to common stockholders is computed using the weighted average number of common shares outstanding, increased by the assumed conversion of the Company’s convertible preferred stock and the Company’s stock options and restricted stock awarded, unless anti-dilutive. The components of basic and diluted net income per common share available to common stockholders for the years ended December 31, 2018, 2017 and 2016 were as follows:



	2018		2017		2016
Basic Net Income per Common Share
Available to Common Stockholders:
Net income	$	36,600,000	$	26,684,000	$	21,840,000
Preferred stock dividends	—		—		(825,000		)
Net income available to common stockholders	36,600,000		26,684,000		21,015,000
Weighted average common shares outstanding	14,487,126		12,531,659		10,149,099
Basic earnings per common share	$	2.53	$	2.13	$	2.07
Diluted Net Income per Common Share
Available to Common Stockholders:
Net income available to common stockholders	$	36,600,000	$	26,684,000	$	21,015,000
Effect of assumed preferred stock conversion	—		—		825,000
Net income applicable to diluted earnings per share	36,600,000		26,684,000		21,840,000
Weighted average common shares outstanding	14,487,126		12,531,659		10,149,099
Dilutive potential common shares:
Assumed conversion of stock options	209		4,875		3,111
Restricted stock awarded	13,250		—		4,107
Assumed conversion of preferred stock	—		—		507,393
Dilutive potential common shares	13,459		4,875		514,611
Diluted weighted average common shares outstanding	14,500,585		12,536,534		10,663,710
Diluted earnings per common share	$	2.52	$	2.13	$	2.05

There were no shares not considered in computing diluted earnings per share for the years ended December 31, 2018, 2017 and 2016.