Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Components of Basic and Diluted Net Income per Common Share

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



	Three months ended September 30,				Nine months ended September 30,
	2019		2018		2019		2018
Basic Net Income per Common Share
Available to Common Stockholders:
Net income	$	11,670,000	$	8,234,000	$	35,967,000	$	26,661,000
Weighted average common shares outstanding	16,684,395		15,290,539		16,677,932		13,982,339
Basic earnings per common share	$	0.70	$	0.54	$	2.16	$	1.91

Diluted Net Income per Common Share
Available to Common Stockholders:
Net income applicable to diluted earnings per share	$	11,670,000	$	8,234,000	$	35,967,000	$	26,661,000
Weighted average common shares outstanding	16,684,395		15,290,539		16,677,932		13,982,339
Dilutive potential common shares:
Assumed conversion of stock options	—		2,429		—		3,570
Restricted stock awarded	34,780		13,250		34,780		13,250
Dilutive potential common shares	34,780		15,679		34,780		16,820
Diluted weighted average common shares outstanding	16,719,175		15,306,218		16,712,712		13,999,159
Diluted earnings per common share	$	0.70	$	0.54	$	2.15	$	1.90