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 nine months ended September 30, 2019 and 2018:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands, except per share data)	2019		2018		2019		2018
Net income	$	13,903	$	6,547	$	37,483	$	25,363
Dividends paid on and earnings allocated to participating securities		(294)		(145)		(797)		(550)
Income attributable to common stock	$	13,609	$	6,402	$	36,686	$	24,813

Weighted average common shares outstanding, including participating securities		19,958		19,890		19,950		19,869
Weighted average participating securities		(422)		(438)		(425)		(435)
Weighted average common shares outstanding		19,536		19,452		19,525		19,434
Basic earnings per common share	$	0.70	$	0.33	$	1.88	$	1.28

Income attributable to common stock	$	13,609	$	6,402	$	36,686	$	24,813

Weighted average common shares outstanding		19,536		19,452		19,525		19,434
Incremental shares from assumed conversions of options and restricted stock units		32		33		27		27
Weighted average common and equivalent shares outstanding		19,568		19,485		19,552		19,461
Diluted earnings per common share	$	0.70	$	0.33	$	1.88	$	1.28

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

There were zero RSUs that were antidilutive for the three months ended September 30, 2019 and 2018, respectively. There were 9,190 and 21,980 RSUs that were antidilutive for the nine months ended September 30, 2019 and 2018, respectively.