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Earnings Per Share (Tables) | 3 Months Ended
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Mar. 31, 2021
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share | Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the sum of the weighted-average number of common shares outstanding and the weighted-average number of potential common shares outstanding. Under the treasury stock method, stock appreciation rights (“SARs”) are dilutive when the average market price of the Company’s common stock, combined with the effect of any unamortized compensation expense, exceeds the SAR price during a period. Anti-dilutive shares are those SARs with prices in excess of the current market value. The calculations of basic and diluted earnings per share are as follows:
|  | Three Months Ended March 31,
(In thousands except share and per share data) |  | 2021 |  | 2020
Basic |  |  |  |  |  |
Net income |  | $ | 7,071 |  | $ | 7,545
Weighted-average common shares outstanding |  |  | 14,312,260 |  |  | 14,422,813
Basic earnings per share |  | $ | .49 |  | $ | .52
Diluted |  |  |  |  |  |
Net income |  | $ | 7,071 |  | $ | 7,545
Weighted-average common shares outstanding |  |  | 14,312,260 |  |  | 14,422,813
Effect of dilutive restricted stock and stock appreciation rights |  |  | 220,809 |  |  | 207,700
Weighted-average common shares outstanding assuming dilution |  |  | 14,533,069 |  |  | 14,630,513
Diluted earnings per share |  | $ | .49 |  | $ | .52

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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