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Earnings Per Common Share | 3 Months Ended
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Mar. 31, 2020
Earnings Per Common Share |
Earnings Per Common Share | 5. 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 month periods ending March 31, 2020 and 2019, options to purchase 29,500 common shares, with an exercise price of $3.90 to $4.22, and options to purchase 12,000 common shares, with an exercise price of $4.19 to $4.22, respectively, were outstanding but were not included in the computation of diluted earnings per common share because to do so would be antidilutive.
|  | Three months ended
|  | March 31,
|  | 2020 |  | 2019
|  | (In thousands, except per share data)
Numerator: |  |  |  |  |  |
Net income |  | $ | 1,409 |  | $ | 1,878
Denominator: |  |  |  |  |  |
Weighted average common shares outstanding (basic) |  |  | 17,043 |  |  | 17,578
Effect of stock options |  |  | 56 |  |  | 86
Weighted average common shares outstanding (diluted) |  |  | 17,099 |  |  | 17,664
Earnings per common share: |  |  |  |  |  |
Basic |  | $ | 0.08 |  | $ | 0.11
Diluted |  |  | 0.08 |  |  | 0.11

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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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