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NOTE 4: EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2018

	Three Months Ended June 30,
	2018	2017
	(In Thousands, Except Per Share Data)

Basic:
Average shares outstanding	14,125		14,027
Net income	$ 13,839		$ 16,176
Per share amount	$ 0.98		$ 1.15

Diluted:
Average shares outstanding	14,125		14,027
Net effect of dilutive stock options – based on the treasury
stock method using average market price	153		179
Diluted shares	14,278		14,206
Net income	$ 13,839		$ 16,176
Per share amount	$ 0.97		$ 1.14

	Six Months Ended June 30,
	2018	2017
	(In Thousands, Except Per Share Data)

Basic:
Average shares outstanding	14,113	14,010
Net income	$ 27,305	$ 27,695
Per share amount	$ 1.93	$ 1.98

Diluted:
Average shares outstanding	14,113	14,010
Net effect of dilutive stock options – based on the treasury
stock method using average market price	153	179
Diluted shares	14,266	14,189
Net income	$ 27,305	$ 27,695
Per share amount	$ 1.91	$ 1.95

Options outstanding at June 30, 2018 and 2017, to purchase 161,400 and 114,800 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for each of the three and six month periods because the exercise prices of such options were greater than the average market prices of the common stock for the three and six months ended June 30, 2018 and 2017, respectively.