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EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2020

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 8. EARNINGS PER SHARE

Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period, which includes shares held in treasury on behalf of participants in the Company’s Directors Fee Deferral Plan, and share repurchases. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock based awards and warrants, none of which were antidilutive.


		Three Months Ended June 30,						Six Months Ended June 30,
		2020			2019			2020			2019
Weighted average shares outstanding for basic earnings per common share			25,412,014			25,614,701			25,517,499			25,553,254
Dilutive effect of stock based awards and warrants			57,666			159,301			77,460			167,825
Weighted average shares outstanding for diluted earnings per common share			25,469,680			25,774,002			25,594,959			25,721,079

Basic earnings per common share		$	0.77		$	0.85		$	1.45		$	1.70
Diluted earnings per common share		$	0.77		$	0.85		$	1.44		$	1.69