| NET INCOME PER COMMON SHARE
The following table illustrates the computation of basic and diluted net income per common share for the periods indicated (in thousands, except per share data):
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Year Ended December 31, |
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2018 |
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2017 |
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Income |
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Shares |
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Per Share |
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Income |
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Shares |
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Per Share |
Basic net income per common share: |
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Net income available to common stockholders |
$ |
31,035 |
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11,304 |
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$ |
2.75 |
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$ |
23,578 |
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11,251 |
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$ |
2.10 |
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Effect of dilutive securities: |
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Non-vested restricted stock |
— |
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14 |
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— |
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16 |
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Diluted net income per common share: |
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Net income available to common stockholders plus assumed conversions |
$ |
31,035 |
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11,318 |
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$ |
2.74 |
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$ |
23,578 |
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11,267 |
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$ |
2.09 |
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Certain non-vested restricted stock is anti-dilutive upon applying the treasury stock method since the amount of compensation cost for future service results in the hypothetical repurchase of shares exceeding the actual number of shares to be vested. Non-vested restricted stock totaling 2,232 shares were not included for the year ended December 31, 2017 as their effect would have been anti-dilutive.
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