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Note 17 - Earnings Per Share
 12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 17. Earnings per Share

The following information was used in the computation of basic and diluted EPS for the years ended December 31, 2018, 2017, and 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

    

2017

    

2016

Net income

 

$

43,119,699

 

$

35,706,507

 

$

27,686,787

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

  

 

 

  

Basic EPS

 

$

2.92

 

$

2.68

 

$

2.20

Diluted EPS

 

$

2.86

 

$

2.61

 

$

2.17

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding*

 

 

14,768,687

 

 

13,325,128

 

 

12,570,767

Weighted average common shares issuable upon exercise of stock options and

 

 

 

 

 

 

 

 

 

    under the employee stock purchase plan**

 

 

296,043

 

 

355,344

 

 

195,236

Weighted average common and common equivalent shares outstanding

 

 

15,064,730

 

 

13,680,472

 

 

12,766,003

*   The increase in weighted average common shares outstanding from 2016 to 2018 was primarily due to the common stock issuances that occurred in conjunction with the Springfield Bancshares merger and Guaranty Bank acquisition.

**  Excludes anti-dilutive shares of 91,954,  49,919, and 17,739 at December 31, 2018, 2017 and 2016, respectively.