Earnings Per Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

Note 3 – Earnings Per Share

Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing net income by the sum of the weighted-average number of common shares outstanding and the weighted-average number of potential common shares outstanding. There were no anti-dilutive shares in the three and six months ended June 30, 2019 and 2018. The calculations of basic and diluted earnings per share are as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands except share and per share data)	2019		2018		2019		2018
Basic
Net income	$	7,684	$	7,509	$	15,847	$	15,601
Weighted-average common shares outstanding		14,434,232		14,687,882		14,444,821		14,683,773
Basic earnings per share	$	.53	$	.51	$	1.10	$	1.06
Diluted
Net income	$	7,684	$	7,509	$	15,847	$	15,601
Weighted-average common shares outstanding		14,434,232		14,687,882		14,444,821		14,683,773
Effect of dilutive restricted stock and stock appreciation rights		258,032		246,330		255,613		236,666
Weighted-average common shares outstanding assuming dilution		14,692,264		14,934,212		14,700,434		14,920,439
Diluted earnings per share	$	.52	$	.50	$	1.08	$	1.05