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Earnings per Common Share | 9 Months Ended
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Sep. 30, 2020
Earnings per common share: |
Earnings per Common Share | Note 3. Earnings per Common Share Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) No. 260-10-45 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting and, therefore, need to be included in the earnings allocation in computing earnings per share (“EPS”). The restricted stock awards granted by the Company contain non-forfeitable rights to dividends and therefore are considered participating securities. The two-class method for calculating basic EPS excludes dividends paid to participating securities and any undistributed earnings attributable to participating securities. Earnings per common share have been computed based on the following:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| (in thousands, except for per share data)
| 2020 |  | 2019 |  | 2020 |  | 2019
Net income | $ | 24,786 |  |  | $ | 21,696 |  |  | $ | 45,648 |  |  | $ | 52,612 |
Earnings allocated to participating securities |  | (133 | ) |  |  | (117 | ) |  |  | (218 | ) |  |  | (176 | )
Income attributable to common stock | $ | 24,653 |  |  | $ | 21,579 |  |  | $ | 45,430 |  |  | $ | 52,436 |
Weighted average common shares outstanding, including participating securities |  | 39,656 |  |  |  | 35,307 |  |  |  | 39,624 |  |  |  | 35,317 |
Weighted average participating securities |  | (119 | ) |  |  | (141 | ) |  |  | (125 | ) |  |  | (65 | )
Weighted average common shares outstanding |  | 39,537 |  |  |  | 35,166 |  |  |  | 39,499 |  |  |  | 35,252 |
Incremental shares from assumed conversions of options, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
performance units and non-participating restricted shares |  | 117 |  |  |  | 97 |  |  |  | 111 |  |  |  | 82 |
Weighted average common and equivalent shares outstanding |  | 39,654 |  |  |  | 35,263 |  |  |  | 39,610 |  |  |  | 35,334 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.62 |  |  | $ | 0.61 |  |  | $ | 1.15 |  |  | $ | 1.49 |
Diluted |  | 0.62 |  |  |  | 0.61 |  |  |  | 1.15 |  |  |  | 1.48 |
There were no antidilutive share equivalents as of September 30, 2020 and September 30, 2019.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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