Net Income Per Share

6 Months Ended

Jun. 30, 2021

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 June 30,		For the Six Months Ended June 30,
	2021	2020	2021	2020
Weighted average shares outstanding:
Common shares	16,424,346	17,526,660	16,570,985	17,705,097
Vested restricted stock units	365,843	318,125	353,029	310,028
Basic number of weighted average shares outstanding	16,790,189	17,844,785	16,924,014	18,015,125
Dilutive effect of restricted stock and restricted stock units	4,090	2,265	20,886	20,042
Dilutive number of weighted average shares outstanding	16,794,279	17,847,050	16,944,900	18,035,167

For the three and six months ended June 30, 2021, 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. For the three and six months ended June 30, 2020, there were 5,285 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.