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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2019
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 9. EARNINGS PER SHARE

Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period, including shares held in treasury on behalf of participants in the Company’s Directors Fee Deferral Plan. Diluted

earnings per common share includes the dilutive effect of additional potential common shares issuable under stock options, stock awards and warrants, none of which were antidilutive.

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Three Months Ended September 30, 

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Nine Months Ended September 30, 

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2019

    

2018

    

2019

    

2018

Weighted average shares outstanding for basic earnings per common share

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25,622,338

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25,301,033

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25,576,740

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25,284,085

Dilutive effect of stock options, awards and warrants

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174,358

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444,118

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168,289

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435,608

Weighted average shares outstanding for diluted earnings per common share

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25,796,696

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25,745,151

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25,745,029

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25,719,693

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Basic earnings per common share

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$

0.84

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$

0.81

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$

2.54

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$

2.33

Diluted earnings per common share

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$

0.83

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$

0.80

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$

2.52

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$

2.30

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