(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, 2020 and 2019 are as follows (in thousands, except per share data):


	For the Three Months Ended March 31,
	2020		2019
Basic earnings per share
Net income available to common stockholders	$	2,937	$	2,350
Basic weighted-average shares outstanding		32,913		32,233

Basic earnings per share	$	0.09	$	0.07

Diluted earnings per share
Net income available to common stockholders	$	2,937	$	2,350
Weighted-average shares outstanding		32,913		32,233
Effect of dilutive securities - options and restricted stock		1,291		1,488
Diluted weighted-average shares outstanding		34,204		33,721

Diluted earnings per share	$	0.09	$	0.07

For the three months ended March 31, 2020 and 2019, 0.3 million and 0.4 million shares of common stock were excluded from the dilutive stock calculation because their effect would have been anti-dilutive.