Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings per common share was computed based on the following:


	Years Ended December 31,
(dollars in thousands, except per share data)	2019		2018		2017
Numerator:
Income applicable to common shares	$	27,932	$	31,590	$	16,824
Denominator:
Weighted average common shares outstanding	9,074		9,069		7,117
Effect of dilutive securities:
Restricted stock	12		20		8
Stock options	60		210		265
Weighted average common shares outstanding - assuming dilution	9,146		9,299		7,390
Earnings per common share	$	3.08	$	3.48	$	2.36
Earnings per common share - assuming dilution	$	3.05	$	3.40	$	2.28

Options on 92,420, 29,334 and 50,356 shares of common stock were not included in computing diluted earnings per share for the years ended December 31, 2019, 2018 and 2017, respectively, because the effect of these shares was anti-dilutive.