Income Per Share of Common Stock (Tables)

6 Months Ended

Jun. 30, 2019

Income Per Share of Common Stock

Schedule of computation of basic and diluted income per common share

The following table sets forth the computation of basic and diluted income per common share (in thousands, except per share amounts):

	Three Months Ended June 30,				Six Months Ended  June 30,
	2019		2018		2019		2018
Net income for basic and diluted income per common share	$	6,033	$	6,638	$	11,161	$	10,900
Weighted-average shares for basic income per common share		5,614		5,595		5,612		5,593
Effect of dilutive securities:
Employee and director stock options(1)		10		8		7		8
Adjusted weighted-average shares and assumed exercises for diluted income per common share		5,624		5,603		5,619		5,601
Basic net income per common share	$	1.07	$	1.19	$	1.99	$	1.95
Diluted net income per common share	$	1.07	$	1.18	$	1.99	$	1.95

Excludes 0 and 14 stock options for the three- and six-month 2019 periods and 2 and 10 stock options for the three- and six-month 2018 periods, respectively, as anti-dilutive because the exercise price exceeded the average per share market price for the period.