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Earnings per share | 3 Months Ended
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Mar. 31, 2020
Earnings per share |
Earnings per share | 3. Earnings per share: Basic earnings per share represent income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. The following table presents the calculation of both basic and diluted earnings per share of common stock for the three months ended March 31,2020 and 2019:
|  | 2020 |  | 2019 |
For the Three Months Ended March 31 |  | Basic |  | Diluted |  | Basic |  | Diluted |
Net income |  | $ | 5,281 |  | $ | 5,281 |  | $ | 6,412 |  | $ | 6,412 |
Average common shares outstanding |  |  | 7,379,438 |  |  | 7,406,291 |  |  | 7,399,054 |  |  | 7,408,536 |
Earnings per share |  | $ | 0.72 |  | $ | 0.71 |  | $ | 0.87 |  | $ | 0.87 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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