Note 13 - Earnings Per Share

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE

13

– Earnings Per Share

:

The following table represents a reconciliation of basic and diluted earnings per share

:

	201 7		201 6		201 5
Net earnings used in the computation of basic an d diluted earnings per share (in thousands )	$	15,022	$	14,638	$	13,066
Weighted average share s outstanding - basi c		14,510,156		14,082,243		13,761,009
Common stock equivalent s		608,612		815,246		817,635
Total weighted average share s outstanding - diluted		15,118,768		14,897,489		14,578,644
Per Share Data :
Basi c
Net earning s	$	1.04	$	1.04	$	0.95
Dilute d
Net earning s	$	0.99	$	0.98	$	0.90

Awards to purchase an average of

37,450

shares of common stock with a weighted average exercise price of

$18.65

per share were outstanding during

2017

but were

not

included in the computation of diluted EPS because the awards’ exercise prices were greater than the average market price of the common shares. Awards to purchase an average of

124,000

shares of common stock with a weighted average exercise price of

$18.53

per share were outstanding during

2016

but were

not

included in the computation of diluted EPS because the awards’ exercise prices were greater than the average market price of the common shares. Awards to purchase an average of

108,400

shares of common stock with a weighted average exercise price of

$17.98

per share were outstanding during

2015

but were

not

included in the computation of diluted EPS because the awards’ exercise prices were greater than the average market price of the common shares.