Income Per Share of Common Stock (Tables)

3 Months Ended

Mar. 31, 2021

Income Per Share of Common Stock

Schedule of computation of basic and diluted income per common share

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

	Three Months Ended March 31,
	2021		2020
Net income for basic and diluted income per common share	$	7,031	$	5,544
Weighted-average shares for basic income per common share		5,651		5,624
Effect of dilutive securities:
Employee and director stock options(1)		13		10
Adjusted weighted-average shares and assumed exercises for diluted income per common share		5,664		5,634
Basic net income per common share	$	1.24	$	0.99
Diluted net income per common share	$	1.24	$	0.98

(1) Excludes 0 and 8 stock options for the three months ended March 31, 2021 and 2020, respectively, as anti-dilutive because the exercise price exceeded the average per share market price for the period.