Note 16 - Earnings Per Share

12 Months Ended

Dec. 31, 2019

Notes

Note 16 - Earnings Per Share

Note 16 – Earnings Per Share

Basic earnings per share is calculated by dividing net income attributable to the common stockholders of the company by the weighted average number of common shares outstanding during the period.  Diluted earnings per share is calculated by assuming the exercise of stock options at the closing price of stock at the end of 2019.

The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:

(in thousands)
	2019	2018	2017
Numerator
Net income	14,727	18,555	8,505
Denominator
Weighted average shares, basic	3,721	3,730	3,718
Dilutive effect of stock options	18	18	19
Diluted shares	3,739	3,748	3,737
Earnings per share, basic	3.96	4.97	2.29
Earnings per share, diluted	3.94	4.95	2.28