Income Per Common Share

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Income Per Common Share

INCOME PER COMMON SHARE

Basic net income per common share is calculated by dividing net income by the weighted average shares outstanding during the period, without consideration for common stock equivalents.

Diluted net income per common share is calculated by adjusting weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury stock method. Potential common stock is included in the diluted income per common share calculation when dilutive. The dilutive effect of outstanding restricted stock awards after application of the treasury stock method was 216 thousand and 260 thousand shares for the three and nine months ended September 30, 2021, respectively, and 219 thousand and 188 thousand shares for the three and nine months ended

September 30, 2020, respectively. Approximately 2 thousand shares of potential common stock was not included in the calculation of diluted net income per common share for the nine months ended September 30, 2021, because the effect would have been anti-dilutive.