EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2020

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 11 — EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. At September 30, 2020 and 2019, there were no potential common shares outstanding. The following table sets forth the computation of basic and diluted earnings per share.

(In thousands, except earnings per share)	Three Months Ended
	September 30,
	2020		2019
Net income	$	3,137	$	2,923
Weighted-average common shares outstanding		5,848		5,790
Basic and diluted earnings per share	$	0.54	$	0.50

(In thousands, except earnings per share)	Nine Months Ended
	September 30,
	2020		2019
Net income	$	8,571	$	7,696
Weighted-average common shares outstanding		5,833		5,778
Basic and diluted earnings per share	$	1.47	$	1.33