EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2020

EARNINGS PER SHARE

EARNINGS PER SHARE

(3)   EARNINGS PER SHARE

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding and the number of dilutive potential common share equivalents during the period, calculated using the treasury-stock method for outstanding stock options.

The calculation of basic and diluted earnings per share for the three and six months ended June 30, 2020 and 2019 are as follows (in thousands, except per share data):

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2020		2019		2020		2019
Basic earnings per share
Net income available to common stockholders	$	3,017	$	2,162	$	5,954	$	4,512
Basic weighted-average shares outstanding		33,283		32,326		33,098		32,279
Basic earnings per share	$	0.09	$	0.07	$	0.18	$	0.14
Diluted earnings per share
Net income available to common stockholders	$	3,017	$	2,162	$	5,954	$	4,512
Weighted-average shares outstanding		33,283		32,326		33,098		32,279
Effect of dilutive securities - options and restricted stock		1,171		1,627		1,231		1,558
Diluted weighted-average shares outstanding		34,454		33,953		34,329		33,837
Diluted earnings per share	$	0.09	$	0.06	$	0.17	$	0.13

For the three and six months ended June 30, 2020, options to purchase 14,000 and 59,000 shares, respectively, of common stock were excluded from the dilutive stock calculation because their effect would have been anti-dilutive.

For the three and six months ended June 30, 2019, options to purchase 0.3 million and 0.4 million shares, respectively, of common stock were excluded from the dilutive stock calculation because their effect would have been anti-dilutive.