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Earnings Per Common Share | 9 Months Ended
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Sep. 30, 2019
Earnings Per Common Share |
Earnings Per Common Share | 6. Earnings Per Common Share Basic earnings per share include only the weighted average common shares outstanding. Diluted earnings per share include the weighted average common shares outstanding and any potentially dilutive common stock equivalent shares in the calculation. Treasury shares are excluded for earnings per share purposes. For the three and nine month periods ending September 30, 2019, options to purchase 12,000 common shares, with an exercise price of $4.19 to $4.22, were outstanding but were not included in the computation of diluted earnings per common share because to do so would be antidilutive. There were no antidilutive securities during either period of 2018.
|  | Three months ended |  | Nine months ended
|  | September 30, |  | September 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
|  | (In thousands, except per share data)
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 1,689 |  | $ | 2,329 |  | $ | 5,359 |  | $ | 5,840
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding (basic) |  |  | 17,278 |  |  | 17,924 |  |  | 17,443 |  |  | 18,013
Effect of stock options |  |  | 82 |  |  | 112 |  |  | 81 |  |  | 104
Weighted average common shares outstanding (diluted) |  |  | 17,360 |  |  | 18,036 |  |  | 17,524 |  |  | 18,117
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.10 |  | $ | 0.13 |  | $ | 0.31 |  | $ | 0.32
Diluted |  |  | 0.10 |  |  | 0.13 |  |  | 0.31 |  |  | 0.32

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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