XML 52 R36.htm IDEA: XBRL DOCUMENT v3.10.0.1
Common Stock and Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Schedule of Common Stock Outstanding

The table below shows activity in the outstanding shares of the Company’s common stock during 2018.

      2018
Shares outstanding at January 1      12,286,896
20% stock dividend paid on December 14, 2018 2,457,484
Issuance of common stock:
Employee restricted stock grants 9,530
Employee SARs exercised 12,048
Directors’ compensation 9,526
Shares repurchased (163,634 )
Shares forfeited (564 )
Shares outstanding at December 31 14,611,286
Schedule of the Calculations of Basic and Diluted Earnings per Share

The calculations of basic and diluted earnings per share are as follows:

December 31,
(In thousands except share and per share data) 2018 2017 2016
Basic:
Net income $      30,268 $      25,014 $      24,348
Weighted average common shares outstanding       14,675,136       14,700,557       14,718,228
Basic earnings per share $ 2.06 $ 1.70 $ 1.65
Diluted:
Net income $ 30,268 $ 25,014 $ 24,348
Weighted average common shares outstanding 14,675,136 14,700,558 14,718,228
Effect of dilutive restricted stock, performance based restricted stock (“PBRS”), and SARs 239,065 215,332 206,878
Weighted average common shares outstanding assuming dilution 14,914,202 14,915,890 14,925,106
Diluted earnings per share $ 2.03 $ 1.68 $ 1.63