Earnings Per Share

Basic earnings per share (EPS), which excludes dilution, is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options or restricted stock awards, result in the issuance of common stock which shares in the earnings of the Company. A reconciliation of the numerators and denominators of the basic and diluted EPS computations is as follows:



Basic Earnings Per Share	For the Quarter Ended March 31,
(In thousands, except share and per share amounts)	2020		2019
Net income	$	6,623	$	5,216
Weighted average shares outstanding	12,734,971		13,646,489
Basic earnings per share	$	0.52	$	0.38



Diluted Earnings Per Share	For the Quarter Ended March 31,
(In thousands, except share and per share amounts)	2020		2019
Net income	$	6,623	$	5,216
Weighted average shares outstanding	12,734,971		13,646,489
Effect of dilutive stock options	44,125		109,126
Weighted average shares of common stock and common stock equivalents	12,779,096		13,755,615
Diluted earnings per share	$	0.52	$	0.38

No outstanding options or restricted stock awards were anti-dilutive for the three months ended ended March 31, 2020 and 2019.