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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2019
EARNINGS PER SHARE  
EARNINGS PER SHARE

 

4.EARNINGS PER SHARE

 

Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period.  Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock based compensation agreements.

 

The factors used in the earnings per share computation follow:

 

 

 

 

 

 

 

 

 

Nine Months Ended

 

 

September 30,

 

    

2019

    

2018

 

 

(in thousands)

Basic and Diluted Earnings Per Share

 

 

 

 

 

 

Net Income

 

$

9,664

 

$

9,494

Weighted average common shares outstanding

 

 

5,930

 

 

5,956

Basic and diluted earnings per share

 

$

1.62

 

$

1.59

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

September 30,

 

    

2019

    

2018

 

 

(in thousands)

Basic and Diluted Earnings Per Share

 

 

 

 

 

 

Net Income

 

$

3,616

 

$

3,278

Weighted average common shares outstanding

 

 

5,901

 

 

5,924

Basic and diluted earnings per share

 

$

0.61

 

$

0.55

   

 

 

 

 

 

 

Restricted stock grants were excluded in shares outstanding for purposes of computing basic and diluted earnings per share for the both the nine months ended September 30, 2019 and September 30, 2018.