Earnings Per Share

3 Months Ended

Mar. 31, 2020

Note 15 – Earnings Per Share

Shares used in the computation of the Company’s basic and diluted earnings per common share are reconciled as follows:



	Three Months Ended March 31,
	2020	2019

Weighted average common shares outstanding	12,366,880	12,337,013
Dilutive effect of employee stock options and nonvested share awards	-	-
Weighted average diluted common shares outstanding	12,366,880	12,337,013

Weighted average diluted common shares outstanding include the incremental shares that would be issued upon the assumed exercise of stock options and the assumed vesting of nonvested share awards. For the three months ended March 31, 2020 and 2019, 1,039,850 and 628,912 shares, respectively, were not included in the weighted average common shares outstanding calculation as they were anti-dilutive.