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EARNINGS PER SHARE | 9 Months Ended
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Sep. 30, 2020
EARNINGS PER SHARE |
EARNINGS PER SHARE | NOTE 8. EARNINGS PER SHARE Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period, which includes shares held in treasury on behalf of participants in the Company’s Directors Fee Deferral Plan, and share repurchases. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock based awards and warrants, none of which were antidilutive. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
Weighted average shares outstanding for basic earnings per common share | ​ | ​ | 25,418,712 | ​ | ​ | 25,622,338 | ​ | ​ | 25,484,329 | ​ | ​ | 25,576,740
Dilutive effect of stock options, awards and warrants | ​ | ​ | 68,590 | ​ | ​ | 174,358 | ​ | ​ | 134,072 | ​ | ​ | 168,289
Weighted average shares outstanding for diluted earnings per common share | ​ | ​ | 25,487,302 | ​ | ​ | 25,796,696 | ​ | ​ | 25,618,401 | ​ | ​ | 25,745,029
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings per common share | ​ | $ | 0.89 | ​ | $ | 0.84 | ​ | $ | 2.34 | ​ | $ | 2.54
Diluted earnings per common share | ​ | $ | 0.89 | ​ | $ | 0.83 | ​ | $ | 2.33 | ​ | $ | 2.52
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