Note 4: Earnings Per Share

3 Months Ended

Jun. 30, 2016

Notes

Note 4: Earnings Per Share

NOTE 4: EARNINGS PER SHARE

	Three Months Ended June 30,
	2016	2015
	(In Thousands, Except Per Share Data)
Basic:
Average shares outstanding	13,899	13,790
Net income available to common stockholders	$12,534	$11,858
Per common share amount	$0.90	$0.86
Diluted:
Average shares outstanding	13,899	13,790
Net effect of dilutive stock options – based on the treasury
stock method using average market price	121	189
Diluted shares	14,020	13,979
Net income available to common stockholders	$12,534	$11,858
Per common share amount	$0.89	$0.85

	Six Months Ended June 30,
	2016	2015
	(In Thousands, Except Per Share Data)
Basic:
Average shares outstanding	13,900	13,790
Net income available to common stockholders	$22,327	$23,366
Per common share amount	$1.61	$1.69
Diluted:
Average shares outstanding	13,900	13,790
Net effect of dilutive stock options – based on the treasury
stock method using average market price	124	189
Diluted shares	14,024	13,979
Net income available to common stockholders	$22,327	$23,366
Per common share amount	$1.59	$1.67

Options outstanding at June 30, 2016 and 2015, to purchase 125,150 and 12,750 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 the exercise prices of such options were greater than the average market prices of the common stock for the three and six months ended June 30, 2016 and 2015, respectively.