Note 3 - Earnings Per Share

6 Months Ended

Jun. 30, 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						For the six months ended
	June 30,						June 30,
	2019			2018			2019			2018
	(Dollars in thousands, except per share data)
Net income, as reported	$	10,556		$	13,923		$	17,624		$	25,335
Divided by:
Weighted average common shares outstanding		28,761			28,845			28,691			28,909
Weighted average common stock equivalents		-			1			-			1
Total weighted average common shares outstanding and common stock equivalents		28,761			28,846			28,691			28,910
Basic earnings per common share	$	0.37		$	0.48		$	0.61		$	0.88
Diluted earnings per common share (1)	$	0.37		$	0.48		$	0.61		$	0.88
Dividend payout ratio		56.8	%		41.7	%		68.9	%		45.5	%

(1) For the three and six months ended June 30, 2019 and 2018, there were no common stock equivalents that were anti-dilutive.