Income Per Share of Common Stock

6 Months Ended

Jun. 30, 2020

Income Per Share of Common Stock

Income Per Share of Common Stock

5. Income Per Share of Common Stock

The following table sets forth the computation of basic and diluted income per common share (in thousands, except per share amounts):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Net income for basic and diluted income per common share	$	6,101	$	6,033	$	11,645	$	11,161
Weighted-average shares for basic income per common share		5,629		5,614		5,627		5,612
Effect of dilutive securities:
Employee and director stock options(1)		8		10		9		7
Adjusted weighted-average shares and assumed exercises for diluted income per common share		5,637		5,624		5,636		5,619
Basic net income per common share	$	1.08	$	1.07	$	2.07	$	1.99
Diluted net income per common share	$	1.08	$	1.07	$	2.07	$	1.99

(1) Excludes 15 and 11 stock options for the three- and six-month 2020 periods, and 0 and 14 stock options for the three- and six-month 2019 periods, respectively, as anti-dilutive because the exercise price exceeded the average per share market price for the period.