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Earnings Per Share
 6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Earnings Per Share

Note 8 - Earnings per Share

The Company applies the two-class method for determining earnings per common share as its outstanding restricted shares of common stock with non-forfeitable dividend rights are considered participating securities. The following table sets forth the computation of earnings per common share for the three and six months ended June 30, 2018 and 2017 (amounts in thousands, except per share amounts):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

Numerator:

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Net income

 

$

4,186

 

 

$

5,732

 

 

$

10,340

 

 

$

11,207

 

Less: Net income attributable to noncontrolling

   interest

 

 

(954

)

 

 

(936

)

 

 

(1,939

)

 

 

(1,880

)

Net income attributable to common stockholders

 

 

3,232

 

 

 

4,796

 

 

 

8,401

 

 

 

9,327

 

Less: Allocation to participating securities

 

 

(70

)

 

 

(78

)

 

 

(140

)

 

 

(157

)

Net income available to common stockholders

 

$

3,162

 

 

$

4,718

 

 

$

8,261

 

 

$

9,170

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted-average common shares

 

 

31,552

 

 

 

31,404

 

 

 

31,551

 

 

 

31,410

 

Dilutive potential common shares

 

 

74

 

 

 

83

 

 

 

66

 

 

 

41

 

Diluted weighted-average common shares

 

 

31,626

 

 

 

31,487

 

 

 

31,617

 

 

 

31,451

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted earnings per common share

 

$

0.10

 

 

$

0.15

 

 

$

0.26

 

 

$

0.29