NOTE 4: EARNINGS PER SHARE

3 Months Ended

Sep. 30, 2018

Notes

NOTE 4: EARNINGS PER SHARE

NOTE 4: EARNINGS PER SHARE

	Three Months Ended September 30,
	2018	2017
	(In Thousands, Except Per Share Data)
Basic:
Average shares outstanding	14,146		14,038
Net income	$                         22,516		$                         11,663
Per share amount	$                             1.59		$                             0.83
Diluted:
Average shares outstanding	14,146		14,038
Net effect of dilutive stock options – based on the treasury
stock method using average market price	153		186
Diluted shares	14,299		14,224
Net income	$                         22,516		$                         11,663
Per share amount	$                             1.57		$                             0.82

	Nine Months Ended September 30,
	2018	2017
	(In Thousands, Except Per Share Data)
Basic:
Average shares outstanding	14,124	14,007
Net income	$                         49,821	$                         39,358
Per share amount	$                             3.53	$                             2.81
Diluted:
Average shares outstanding	14,124	14,007
Net effect of dilutive stock options – based on the treasury
stock method using average market price	136	186
Diluted shares	14,260	14,193
Net income	$                         49,821	$                         39,358
Per share amount	$                             3.49	$                             2.77

Options outstanding at September 30, 2018 and 2017, to purchase 170,600 and 114,300 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 September 30, 2018 and 2017, respectively.  Options outstanding at September 30, 2018 and 2017, to purchase 260,947 and 114,300 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for each of the nine month periods because the exercise prices of such options were greater than the average market prices of the common stock for the nine months ended September 30, 2018 and 2017, respectively.