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NOTE 6 - EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE 6 - EARNINGS PER SHARE

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Six months ended

 

 

 

 

June 30, 

 

June 30, 

 

 

 

 

2019

    

 

2018

    

 

2019

    

 

2018

 

 

 

(dollars in thousands, except share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

13,504

 

$

10,445

 

$

26,422

 

$

20,995

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

  

 

 

  

 

 

  

 

Basic EPS

 

$

0.86

 

$

0.75

 

$

1.68

 

$

1.51

 

Diluted EPS

 

$

0.85

 

$

0.73

 

$

1.66

 

$

1.48

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

15,714,588

 

 

13,919,565

 

 

15,703,967

 

 

13,904,113

 

Weighted average common shares issuable upon exercise of stock options

 

 

 

 

 

 

 

 

 

 

 

 

 

    and under the employee stock purchase plan

 

 

223,789

 

 

312,858

 

 

226,692

 

 

314,890

 

Weighted average common and common equivalent shares outstanding

 

 

15,938,377

 

 

14,232,423

 

 

15,930,659

 

 

14,219,003

 

The increase in weighted average common shares outstanding when comparing the three and six months ended June 30, 2019 to June 30, 2018 was primarily due to the common stock issuance as a result of the merger with Springfield Banshares as discussed in Note 2 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.