EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2020

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 8. EARNINGS PER SHARE

Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period, which includes shares held in treasury on behalf of participants in the Company’s Directors Fee Deferral Plan, and share repurchases. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock based awards and warrants, none of which were antidilutive.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Weighted average shares outstanding for basic earnings per common share		25,418,712		25,622,338		25,484,329		25,576,740
Dilutive effect of stock options, awards and warrants		68,590		174,358		134,072		168,289
Weighted average shares outstanding for diluted earnings per common share		25,487,302		25,796,696		25,618,401		25,745,029
Basic earnings per common share	$	0.89	$	0.84	$	2.34	$	2.54
Diluted earnings per common share	$	0.89	$	0.83	$	2.33	$	2.52