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Earnings Per Share

3 Months Ended

Mar. 31, 2021

Note 8.Earnings Per Share

Basic earnings per share excludes dilution and is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if contracts to issue common stock were exercised or converted into common stock, or resulted in the issuance of stock which then shared in the earnings of the Company. Holders of the Company’s restricted stock units do not have voting rights during the vesting period and therefore, restricted stock units are not included in the computation of basic earnings per share. Weighted average shares - diluted includes the potential dilution of stock options and restricted stock units as of March 31, 2021. The weighted average shares - diluted as of March 31, 2020 includes only the potential dilution of stock options.

The following shows the weighted average number of shares used in computing earnings per share and the effect of weighted average number of shares of dilutive potential common stock. Dilutive potential common stock has no effect on income available to common stockholders. There were no anti-dilutive shares for each of the periods ended March 31, 2021 and 2020.



	Three Months Ended
	March 31,
(In thousands, except per share data)	2021		2020
Net income	$	5,569	$	3,733
Weighted average number of shares		13,578		13,752
Effect of dilutive securities,restricted stock units and options		958		843
Weighted average diluted shares		14,536		14,595
Basic EPS	$	0.41	$	0.27
Diluted EPS	$	0.38	$	0.26