EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2020

EARNINGS PER SHARE [Abstract}

EARNINGS PER SHARE

10. EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing net income applicable to common shareholders by the weighted average number of common shares outstanding during each period. The diluted earnings per share computation includes common share equivalents, when dilutive.

A reconciliation of the shares used in the basic and diluted income per common share computation for the three and nine months ended September 30, 2020 and 2019 is as follows:

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
(shares in thousands)	2020	2019	2020	2019
Basic - weighted average shares outstanding	7,306	7,400	7,323	7,392
Dilutive restricted share units	-	2	-	4
Dilutive stock options	30	53	29	47
Diluted - weighted average shares outstanding	7,336	7,455	7,352	7,443
Anti-dilutive securities	154	43	184	75