2. EARNINGS PER SHARE

Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 260‑10‑45 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting and, therefore, need to be included in the earnings allocation in computing earnings per share (“EPS”). The restricted stock awards (“RSAs”) and certain restricted stock units (“RSUs”) granted by the Company contain non-forfeitable rights to dividends and therefore are considered participating securities. The two-class method for calculating basic EPS excludes dividends paid to participating securities and any undistributed earnings attributable to participating securities.

The following table presents the computation of EPS for the three and six months ended June 30, 2019 and 2018:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands, except per share data)	2019		2018		2019		2018
Net income	$	10,653	$	6,743	$	23,580	$	18,816
Dividends paid on and earnings allocated to participating securities		(226)		(148)		(503)		(405)
Income attributable to common stock	$	10,427	$	6,595	$	23,077	$	18,411

Weighted average common shares outstanding, including participating securities		19,965		19,884		19,946		19,859
Weighted average participating securities		(428)		(445)		(427)		(433)
Weighted average common shares outstanding		19,537		19,439		19,519		19,426
Basic earnings per common share	$	0.53	$	0.34	$	1.18	$	0.95

Income attributable to common stock	$	10,427	$	6,595	$	23,077	$	18,411

Weighted average common shares outstanding		19,537		19,439		19,519		19,426
Incremental shares from assumed conversions of options and restricted stock units		28		29		26		27
Weighted average common and equivalent shares outstanding		19,565		19,468		19,545		19,453
Diluted earnings per common share	$	0.53	$	0.34	$	1.18	$	0.95

There were 110,660 stock options outstanding at June 30, 2019 that were not included in the computation of diluted earnings per share for the three and six months ended June 30, 2019 because the options' exercise prices were greater than the average market price of common stock and were, therefore, antidilutive. There were 47,393 stock options outstanding at June 30, 2018 that were not included in the computation of diluted earnings per share for the three and six months ended June 30, 2018 because the options' exercise prices were greater than the average market price of common stock and were, therefore, antidilutive.

There were 32,865 and zero RSUs that were antidilutive for the three months ended June 30, 2019 and 2018, respectively. There were 22,472 and zero RSUs that were antidilutive for the six months ended June 30, 2019 and 2018, respectively.