EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2021

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. In periods of losses, diluted loss per share is computed on the same basis as basic loss per share as the inclusion of any other potential common shares outstanding would be anti-dilutive.

The calculation of basic and diluted earnings per share for the three and six months ended June 30, 2021 and 2020 are as follows (in thousands, except per share data):

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Basic earnings per share
Net income available to common stockholders	$	2,808	$	3,017	$	2,102	$	5,954
Basic weighted-average shares outstanding		34,810		33,283		34,824		33,098
Basic earnings per share	$	0.08	$	0.09	$	0.06	$	0.18
Diluted earnings per share
Net income available to common stockholders	$	2,808	$	3,017	$	2,102	$	5,954
Weighted-average shares outstanding		34,810		33,283		34,824		33,098
Effect of dilutive securities - options and restricted stock		773		1,171		805		1,231
Diluted weighted-average shares outstanding		35,583		34,454		35,629		34,329
Diluted earnings per share	$	0.08	$	0.09	$	0.06	$	0.17

For the three and six months ended June 30, 2021, options to purchase 0.1 million and 0.2 million 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, 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.