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Earnings Per Share
9 Months Ended
Sep. 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 ShareFor the Three Months
Ended September 30,
For the Nine Months
Ended September 30,
(In thousands, except share and per share amounts)2020201920202019
Net income $4,344 $5,691 $13,268 $16,994 
Weighted average shares outstanding12,471,070 13,360,030 12,551,480 13,515,109 
Basic earnings per share$0.35 $0.43 $1.06 $1.26 
 
Diluted Earnings Per ShareFor the Three Months
Ended September 30,
For the Nine Months
Ended September 30,
(In thousands, except share and per share amounts)2020201920202019
Net income $4,344 $5,691 $13,268 $16,994 
Weighted average shares outstanding12,471,070 13,360,030 12,551,480 13,515,109 
Effect of dilutive stock options25,104 90,157 44,692 100,443 
Weighted average shares of common stock and common stock equivalents
12,496,174 13,450,187 12,596,172 13,615,552 
Diluted earnings per share$0.35 $0.42 $1.05 $1.25 
        No outstanding options or restricted stock awards were anti-dilutive for the nine months ended September 30, 2020 and 2019.