Note 4: Earnings Per Share

3 Months Ended

Mar. 31, 2017

Notes

Note 4: Earnings Per Share

NOTE 4: EARNINGS PER SHARE

	Three Months Ended March 31,
	2017	2016
	(In Thousands, Except Per Share Data)
Basic:
Average shares outstanding	13,994	13,890
Net income available to common stockholders	$              11,518	$                9,793
Per common share amount	$                  0.82	$                  0.71
Diluted:
Average shares outstanding	13,994	13,890
Net effect of dilutive stock options – based on the treasury
stock method using average market price	171	128
Diluted shares	14,165	14,018
Net income available to common stockholders	$              11,518	$                9,793
Per common share amount	$                  0.81	$                  0.70

Options outstanding at March 31, 2017 and 2016, to purchase 120,250 and 127,100 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for each of the three month periods because the exercise prices of such options were greater than the average market prices of the common stock for the three months ended March 31, 2017 and 2016, respectively.