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Earnings Per Share | 9 Months Ended
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Sep. 30, 2020
Notes to Financial Statements |
Earnings Per Share | 3. Earnings Per Share Earnings per common share have been computed based on the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the nine months ended | ​
​ | ​ | September 30, | ​ | September 30, | ​
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019 |
​ | ​ | (In thousands, except per share data) | ​
Net income | ​ | $ | 14,331 | ​ | $ | 10,724 | ​ | $ | 31,213 | ​ | $ | 28,348 | ​
Divided by: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
Weighted average common shares outstanding | ​ |  | 28,874 | ​ |  | 28,730 | ​ |  | 28,865 | ​ |  | 28,704 | ​
Weighted average common stock equivalents | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
Total weighted average common shares outstanding and common stock equivalents | ​ |  | 28,874 | ​ |  | 28,730 | ​ |  | 28,865 | ​ |  | 28,704 | ​
Basic earnings per common share | ​ | $ | 0.50 | ​ | $ | 0.37 | ​ | $ | 1.08 | ​ | $ | 0.99 | ​
Diluted earnings per common share (1) | ​ | $ | 0.50 | ​ | $ | 0.37 | ​ | $ | 1.08 | ​ | $ | 0.99 | ​
Dividend payout ratio | ​ |  | 42.0 | % |  | 56.8 | % |  | 58.3 | % |  | 63.6 | %
(1) | For the three and nine months ended September 30, 2020 and 2019, there were no common stock equivalents that were anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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