Earnings Per Share

Basic net income per common share available to common stockholders is calculated as net income less preferred stock dividends divided by the weighted average number of common shares outstanding. Diluted net income per common share available to common stockholders is computed using the weighted average number of common shares outstanding, increased by the Company’s stock options, unless anti-dilutive.

The components of basic and diluted net income per common share available to common stockholders for the three and six-month period ended June 30, 2019 and 2018 were as follows:



	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Basic Net Income per Common Share
Available to Common Stockholders:
Net income	$	10,981,000	$	10,037,000	$	24,297,000	$	18,427,000
Weighted average common shares outstanding	16,683,194		13,956,674		16,674,646		13,317,395
Basic earnings per common share	$	0.66	$	0.72	$	1.46	$	1.38

Diluted Net Income per Common Share
Available to Common Stockholders:
Net income applicable to diluted earnings per share	$	10,981,000	$	10,037,000	$	24,297,000	$	18,427,000
Weighted average common shares outstanding	16,683,194		13,956,674		16,674,646		13,317,395
Dilutive potential common shares:
Assumed conversion of stock options	—		4,124		—		4,053
Restricted stock awarded	34,780		13,250		34,780		13,250
Dilutive potential common shares	34,780		17,374		34,780		17,303
Diluted weighted average common shares outstanding	16,717,974		13,974,048		16,709,426		13,334,698
Diluted earnings per common share	$	0.66	$	0.72	$	1.45	$	1.38

There were no shares not considered in computing diluted earnings per share for the three and six-month periods ended June 30, 2019 and 2018 because they were anti-dilutive.