Income Per Share of Common Stock (Tables)

3 Months Ended

Mar. 31, 2020

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 March 31,
	2020		2019
Net income for basic and diluted income per common share	$	5,544	$	5,128
Weighted-average shares for basic income per common share		5,624		5,609
Effect of dilutive securities:
Employee and director stock options(1)		10		6
Adjusted weighted-average shares and assumed exercises for diluted income per common share		5,634		5,615
Basic net income per common share	$	0.99	$	0.91
Diluted net income per common share	$	0.98	$	0.91

Excludes 8 and 27 stock options for the three months ended March 31, 2020 and 2019, respectively, as anti-dilutive because the exercise price exceeded the average per share market price for the period.