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Earnings Per Share | 12 Months Ended
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Dec. 31, 2020
EARNINGS PER SHARE |
Earnings Per Share | NOTE 13 - EARNINGS PER SHARE The following table sets forth the computations of basic and diluted earnings per share:
| Years Ended December 31,
| 2020 |  | 2019
| (In Thousands, Except Per Share Data)
Numerator, net income | $ | 15,080 |  | $ | 14,215
Denominator: |  |  |  |  |
Weighted average shares outstanding |  | 7,239 |  |  | 6,295
Less: Weighted average unvested restricted shares |  | (36) |  |  | (35)
Denominator: Basic earnings per share |  | 7,203 |  |  | 6,260
Weighted average shares outstanding, basic |  | 7,203 |  |  | 6,260
Add: Dilutive effect of stock options and restricted stock |  | 27 |  |  | 72
Denominator: Diluted earnings per share |  | 7,230 |  |  | 6,332
Basic earnings per common share | $ | 2.09 |  | $ | 2.27
Diluted earnings per common share | $ | 2.09 |  | $ | 2.25
Stock options which had no intrinsic value because their effect would be anti-dilutive, and therefore would not be included in the diluted EPS calculation, were 116,350 and zero for the years ended December 31, 2020 and 2019, respectively, based on the closing price of the Company’s common stock which was $26.17 and $38.90 as of December 31, 2020 and 2019, respectively. All share and per share information has been restated to reflect the 50% stock dividend declared in 2017.

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