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Note 6 - Earnings Per Share
 9 Months Ended
Sep. 30, 2018
Earnings Per Share  
EARNINGS PER SHARE

NOTE 6 - EARNINGS PER SHARE

The following information was used in the computation of EPS on a basic and diluted basis:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Nine months ended

 

 

 

 

September 30, 

 

September 30, 

 

 

 

 

2018

    

 

2017

    

 

2018

    

 

2017

 

Net income

 

$

8,808,835

 

$

7,853,935

 

$

29,804,181

 

$

25,804,917

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

  

 

 

  

 

 

  

 

Basic EPS

 

$

0.56

 

$

0.60

 

$

2.06

 

$

1.96

 

Diluted EPS

 

$

0.55

 

$

0.58

 

$

2.02

 

$

1.91

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

15,625,123

 

 

13,151,350

 

 

14,477,783

 

 

13,151,672

 

Weighted average common shares issuable upon exercise of stock options and under the employee stock purchase plan

 

 

297,201

 

 

356,605

 

 

308,994

 

 

357,894

 

Weighted average common and common equivalent shares outstanding

 

 

15,922,324

 

 

13,507,955

 

 

14,786,777

 

 

13,509,566

 

The increase in weighted average common shares outstanding when comparing the three and nine months ended September 30, 2018 to September 30, 2017 was primarily due to the common stock issuance as a result of the merger with Springfield Banshares as discussed in Note 2 of the Consolidated Financial Statements, and in connection with the acquisition of Guaranty Bank.