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Note 13 - Net Income Per Share
 3 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
Earnings Per Share [Text Block]
13
.
NET INCOME PER SHARE
 
Basic net income per common share is computed by dividing the net income allocable to the common stockholders by the weighted average number of common shares outstanding during the period. Diluted income per share further includes any common shares available to be issued upon exercise of outstanding SARs if such inclusion would be dilutive.
 
 
 
The following table sets forth the computation of basic and diluted net income per common share (dollars in thousands, except share and per share amounts):
 
 
 
Three Months Ended
March 31
,
 
 
 
201
6
 
 
201
5
 
Historical net income per share - Basic
 
 
 
 
 
 
 
 
Numerator:
                
Net income
  $ 27,044     $ 22,108  
Denominator:
                
Weighted average common shares outstanding
     5,796,252       5,843,313  
Basic net income per common share
   $ 4.67     $ 3.78  
                 
Historical net income per share - Diluted
 
 
 
 
 
 
 
 
Numerator:
                
Net income
  $ 27,044     $ 22,108  
Denominator:
                
Weighted average common shares outstanding
     5,796,252       5,843,313  
Effect of dilutive shares (1)
     14,387       -  
Weighted average common shares outstanding
     5,810,639       5,843,313  
Diluted net income per common share
   $ 4.65     $ 3.78  
__________
(1)
 
Anti-dilutive shares included 1,038 and 0 SARs as of March 31, 2016 and 2015, respectively.