Earnings Per Share

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 Company’s stock options, unless anti-dilutive.

The components of basic and diluted net income per common share available to common stockholders for the three-month period ended March 31, 2019 and 2018 were as follows:



	Three months ended March 31,
	2019		2018
Basic Net Income per Common Share
Available to Common Stockholders:
Net income	$	13,316,000	$	8,390,000
Weighted average common shares outstanding	16,665,999		12,671,017
Basic earnings per common share	$	0.80	$	0.66
Diluted Net Income per Common Share
Available to Common Stockholders:
Net income applicable to diluted earnings per share	$	13,316,000	$	8,390,000
Weighted average common shares outstanding	16,665,999		12,671,017
Dilutive potential common shares:
Assumed conversion of stock options	—		3,980
Restricted stock awarded	38,780		13,250
Dilutive potential common shares	38,780		17,230
Diluted weighted average common shares outstanding	16,704,779		12,688,247
Diluted earnings per common share	$	0.80	$	0.66

There were no shares not considered in computing diluted earnings per share for the three-month periods ended March 31, 2019 and 2018 because they were anti-dilutive.