Note 5: Earnings Per Share

6 Months Ended

Jun. 30, 2015

Notes

Note 5: Earnings Per Share

NOTE 5: EARNINGS PER SHARE

	Three Months Ended June 30,
	2015	2014
(In Thousands, Except Per Share Data)
Basic:
Average shares outstanding	13,790	13,685
Net income available to common stockholders	$11,858	$10,909
Per common share amount	$0.86	$0.80
Diluted:
Average shares outstanding	13,790	13,685
Net effect of dilutive stock options – based on the treasury
stock method using average market price	189	95
Diluted shares	13,979	13,780
Net income available to common stockholders	$11,858	$10,909
Per common share amount	$0.85	$0.79

	Six Months Ended June 30,
	2015	2014
(In Thousands, Except Per Share Data)
Basic:
Average shares outstanding	13,790	13,685
Net income available to common stockholders	$23,366	$19,582
Per common share amount	$1.69	$1.43
Diluted:
Average shares outstanding	13,790	13,685
Net effect of dilutive stock options – based on the treasury
stock method using average market price	189	95
Diluted shares	13,979	13,780
Net income available to common stockholders	$23,366	$19,582
Per common share amount	$1.67	$1.42

Options outstanding at June 30, 2015 and 2014, to purchase 12,750 and 182,275 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for each of the three and six month periods because such options’ exercise prices were greater than the average market prices of the common shares for the three and six months ended June 30, 2015 and 2014, respectively.