| EARNINGS PER SHARE |
NOTE 6 – EARNINGS PER SHARE
The computation of basic and diluted earnings per share is shown below (dollars in thousands, except share data):
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Three Months Ended March 31,
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2019
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2018
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Basic
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Net income per consolidated statements of income
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$
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8,531
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$
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6,291
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Less: Earnings allocated to participating securities
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(135)
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(53)
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Net income available to common stockholders
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$
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8,396
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$
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6,238
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Weighted average common shares outstanding including participating securities
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8,281,325
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8,192,798
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Less: Weighted average participating securities
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(130,873)
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(68,770)
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Weighted average common shares outstanding
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8,150,452
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8,124,028
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Basic earnings per common share
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$
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1.03
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$
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0.77
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Diluted
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Net income allocated to common stockholders
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$
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8,396
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$
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6,238
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Weighted average common shares outstanding for basic earnings per common share
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8,150,452
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8,124,028
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Add: Dilutive effects of assumed exercise of stock options
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114,740
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151,215
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Add: Dilutive effects of assumed vesting of performance based restricted stock
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20,028
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—
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Average shares and dilutive potential common shares
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8,285,220
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8,275,243
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Dilutive earnings per common share
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$
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1.01
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$
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0.75
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All stock options were considered in computing diluted earnings per common share for the three months ended March 31, 2019 and 2018.
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