Income Per Share

6 Months Ended

Jun. 30, 2020

Income Per Share

3- Income Per Share

(3) Income per share

The following is the computation for basic and diluted income per share:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
	(in thousands, except per share amounts)
Net income	$	8,605	$	9,664	$	17,502	$	19,102
Weighted average basic shares outstanding		1,835		1,854		1,844		1,854
Add: Effect of dilutive securities		4		10		5		9
Weighted average diluted shares outstanding		1,839		1,864		1,849		1,863
Earnings per share:
Basic	$	4.69	$	5.21	$	9.49	$	10.30
Diluted	$	4.68	$	5.18	$	9.47	$	10.25

Incremental shares from stock options and restricted stock units were included in the calculation of weighted average diluted shares outstanding using the treasury stock method. Dilutive securities representing eight and zero shares of common stock for the quarters ended June 30, 2020 and 2019, respectively, and an average of 12 and zero shares of common stock for the six months ended June 30, 2020 and 2019, respectively, were excluded from the computation of weighted average diluted shares outstanding because their effect would have been anti-dilutive.