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Earnings Per Share | 6 Months Ended
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Jun. 30, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | 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 Three Months Ended June 30, |  |  |  | For the Six Months Ended June 30, |  |
(In thousands, except share and per share amounts) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Net income |  | $ | 2,301 |  |  | $ | 6,087 |  |  | $ | 8,924 |  |  | $ | 11,303 |
Weighted average shares outstanding |  | 12,449,283 |  |  | 13,533,724 |  |  | 12,592,126 |  |  | 13,515,752 |
Basic earnings per share |  | $ | 0.18 |  |  | $ | 0.45 |  |  | $ | 0.71 |  |  | $ | 0.84 |
Diluted Earnings Per Share |  | For the Three Months Ended June 30, |  |  |  | For the Six Months Ended June 30, |  |
(In thousands, except share and per share amounts) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Net income |  | $ | 2,301 |  |  | $ | 6,087 |  |  | $ | 8,924 |  |  | $ | 11,303 |
Weighted average shares outstanding |  | 12,449,283 |  |  | 13,533,724 |  |  | 12,592,126 |  |  | 13,515,752 |
Effect of dilutive stock options |  | 37,398 |  |  | 102,110 |  |  | 54,277 |  |  | 97,114 |
Weighted average shares of common stock and common stock equivalents |  | 12,486,681 |  |  | 13,635,834 |  |  | 12,646,403 |  |  | 13,612,866 |
Diluted earnings per share |  | $ | 0.18 |  |  | $ | 0.45 |  |  | $ | 0.71 |  |  | $ | 0.83 |
No outstanding options or restricted stock awards were anti-dilutive for the six months ended June 30, 2020 and 2019.

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