Net Income Per Share

9 Months Ended

Sep. 30, 2020

NET INCOME PER SHARE

Basic net income per share has been computed by dividing net income by the basic number of weighted average shares outstanding. Diluted net income per share has been computed by dividing net income by the diluted number of weighted average shares outstanding using the treasury stock method. The share effect is as follows:


	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2020	2019	2020	2019
Weighted average shares outstanding:
Common shares	17,526,660	18,659,113	17,645,184	18,662,610
Vested restricted stock units	318,125	285,559	312,747	285,530
Basic number of weighted average shares outstanding	17,844,785	18,944,672	17,957,931	18,948,140
Dilutive effect of restricted stock and restricted stock units	4,980	6,194	15,160	19,412
Dilutive number of weighted average shares outstanding	17,849,765	18,950,866	17,973,091	18,967,552

For the three and nine months ended September 30, 2020 and September 30, 2019, there were no shares of restricted stock and restricted stock units that were not included in the computation of diluted net income per share because their inclusion would have been anti-dilutive.