EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2019

(3)

EARNINGS PER SHARE

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding and the number of dilutive potential common share equivalents during the period, calculated using the treasury-stock method for outstanding stock options.

The calculation of basic and diluted earnings per share for the three months ended March 31, 2019 and 2018 are as follows (in thousands, except per share data):

	For the Three Months Ended March 31,
	2019		2018
Basic earnings per share
Net income available to common stockholders	$	2,350	$	1,920
Basic weighted-average shares outstanding		32,233		32,601

Basic earnings per share	$	0.07	$	0.06

Diluted earnings per share
Net income available to common stockholders	$	2,350	$	1,920
Weighted-average shares outstanding		32,233		32,601
Effect of dilutive securities - options and restricted stock		1,488		1,813
Diluted weighted-average shares outstanding		33,721		34,414

Diluted earnings per share	$	0.07	$	0.06

For the three months ended March 31, 2019, options and restricted stock to purchase

0.4

million shares of common stock were excluded from the dilutive stock calculation because their exercise prices were greater than the average fair value of our common stock for the period.

For the three months ended March 31, 2018, options and restricted stock to purchase

0.2

million shares of common stock were excluded from the dilutive stock calculation because their exercise prices were greater than the average fair value of our common stock for the period.