Note 3 - Earnings Per Share

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Earnings Per Share [Text Block]

3. Earnings Per Share

Earnings per common share have been computed based on the following:

	For the three months ended   March 31,
	2019			2018
	(Dollars in thousands, except per share data)
Net income, as reported	$	7,068		$	11,412
Divided by:
Weighted average common shares outstanding		28,621			28,974
Weighted average common stock equivalents		–			1
Total weighted average common shares outstanding and common stock equivalents		28,621			28,975
Basic earnings per common share	$	0.25		$	0.39
Diluted earnings per common share (1)	$	0.25		$	0.39
Dividend payout ratio		84.0	%		51.3	%

( 1 ) For the three months ended March 31, 2019 and 2018, there were no common stock equivalents that were anti-dilutive.