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Earnings Per Common Share | 3 Months Ended
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Mar. 31, 2021
Earnings Per Common Share [Abstract] |
Earnings Per Common Share | Note 4 – Earnings Per Common Share Basic earnings per common share is derived by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period and does not include the effect of any potentially dilutive common stock equivalents. Diluted earnings per share is derived by dividing net income available to common shareholders by the weighted-average number of shares outstanding, adjusted for the dilutive effect of outstanding common stock equivalents, such as restricted stock units (“RSUs”). At March 31, 2021, there were RSUs relating to 3,380 time-vested shares of common stock outstanding. There were no anti-dilutive shares at March 31, 2021 or March 31, 2020 respectively.. The following tables set forth the calculation of basic and diluted earnings per common share for the three month periods ended March 31, 2021 and 2020:
|  | Three months ended March 31,
|  | 2021 |  | 2020
|  |  |  |  | Average |  | Per Share |  |  |  |  | Average |  | Per Share
(in thousands, except for per share amount) |  | Income |  | Shares |  | Amount |  | Income |  | Shares |  | Amount
Basic Earnings Per Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 3,430 |  | 6,996 |  | $ | 0.49 |  | $ | 1,755 |  | 7,063 |  | $ | 0.25
Diluted Earnings Per Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 3,430 |  | 7,000 |  | $ | 0.49 |  | $ | 1,755 |  | 7,071 |  | $ | 0.25

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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