For the three months ended

For the nine months ended

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

%