Earnings Per Share

6 Months Ended

Jun. 30, 2020

The following table presents the computations of basic and diluted EPS for the periods indicated:


	Three Months Ended June 30,						Six Months Ended June 30,
($ in thousands, except per share)	2020		2019		2020		2019
Basic earnings per share:
Net income	$	3,367	$	6,601	$	6,939	$	13,165
Less: income allocated to unvested restricted stock	(8)		—		(17)		—
Net income allocated to common stock	$	3,359	$	6,601	$	6,922	$	13,165
Weighted-average total common shares outstanding	15,375,805		16,017,089		15,459,639		16,008,325
Less: weighted-average unvested restricted stock	(38,400)		—		(38,087)		—
Weighted-average common shares outstanding, basic	15,337,405		16,017,089		15,421,552		16,008,325
Basic earnings per share	$	0.22	$	0.41	$	0.45	$	0.82
Diluted earnings per share:
Net income allocated to common stock	$	3,359	$	6,601	$	6,922	$	13,165
Weighted-average common shares outstanding, basic	15,337,405		16,017,089		15,421,552		16,008,325
Diluted effect of stock options	36,250		312,950		101,074		294,949
Weighted-average common shares outstanding, diluted	15,373,655		16,330,039		15,522,626		16,303,274
Diluted earnings per share	$	0.22	$	0.40	$	0.45	$	0.81

There were 660,859 and 163,000 stock options were excluded in computing diluted EPS because they were anti-dilutive for three and six months ended June 30, 2020, respectively. For three and six months ended June 30, 2019, there were 15,000 and 15,000 stock options excluded in computing diluted EPS because they were anti-dilutive, respectively.