Note 4 - Earnings Per Share

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 4. Earnings Per Share

The computation of basic earnings per share is based on the weighted average number of common shares outstanding during the period, adjusted for stock splits. The computation of diluted earnings per share for the Company begins with the basic earnings per share and includes the effect of common shares contingently issuable from stock options.

The following is a summary of components comprising basic and diluted earnings per share (“EPS”) for the three months ended March 31, 2020 and 2019:

	Three Months Ended March 31,
	2020		2019
	(Dollars in Thousands Except Share and Per Share Amounts)
Basic EPS Computation:
Numerator – Earnings available to common stockholders	$	9,031	$	8,290
Denominator – Weighted average number of common shares outstanding		10,864,866		10,701,602
Basic earnings per common share		0.83	$	0.77
Diluted EPS Computation:
Numerator – Earnings available to common stockholders	$	9,031	$	8,290
Denominator – Weighted average number of common shares outstanding		10,864,866		10,701,602
Dilutive effect of stock options		21,590		15,270
Weighted average diluted common shares outstanding		10,886,456		10,716,872
Diluted earnings per common share		0.83	$	0.77