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Note 19 - Earnings Per Share | 9 Months Ended
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Sep. 30, 2020
Notes to Financial Statements |
Earnings Per Share [Text Block] | NOTE 19 - EARNINGS PER SHARE The following is a reconciliation of net income and shares outstanding to the income and number of shares used to compute earnings per share (“EPS”):
|  | For the Three Months Ended September 30, |
|  | 2020 |  |  | 2019 |
(dollars in thousands except per share amounts) |  | Income |  |  | Shares |  |  | Income |  |  | Shares |
Net income as reported |  | $ | 8,520 |  |  |  |  |  |  | $ | 8,012 |  |  |  |  |
Less: Earnings allocated to participating securities |  |  | (9 | ) |  |  |  |  |  |  | - |  |  |  |  |
Shares outstanding |  |  |  |  |  |  | 19,739,280 |  |  |  |  |  |  |  | 20,030,866 |
Impact of weighting shares |  |  |  |  |  |  | (21,713 | ) |  |  |  |  |  |  | 36,981 |
Used in basic EPS |  |  | 8,511 |  |  |  | 19,717,568 |  |  |  | 8,012 |  |  |  | 20,067,847 |
Dilutive effect of outstanding |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  |  |  |  |  | 87,324 |  |  |  |  |  |  |  | 358,119 |
Used in dilutive EPS |  | $ | 8,511 |  |  |  | 19,804,892 |  |  | $ | 8,012 |  |  |  | 20,425,966 |
Basic earnings per common share |  | $ | 0.43 |  |  |  |  |  |  | $ | 0.40 |  |  |  |  |
Diluted earnings per common share |  |  | 0.43 |  |  |  |  |  |  |  | 0.39 |  |  |  |  |
|  | For the Nine Months Ended September 30, |
|  | 2020 |  |  | 2019 |
(dollars in thousands except per share amounts) |  | Income |  |  | Shares |  |  | Income |  |  | Shares |
Net income as reported |  | $ | 21,781 |  |  |  |  |  |  | $ | 28,534 |  |  |  |  |
Less: Earnings allocated to participating securities |  | $ | (29 | ) |  |  |  |  |  |  |  |  |  |  |  |
Shares outstanding |  |  |  |  |  |  | 19,739,280 |  |  |  |  |  |  |  | 20,030,866 |
Impact of weighting shares |  |  |  |  |  |  | 60,337 |  |  |  |  |  |  |  | 32,613 |
Used in basic EPS |  |  | 21,752 |  |  |  | 19,799,617 |  |  |  | 28,534 |  |  |  | 20,063,479 |
Dilutive effect of outstanding |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  |  |  |  |  | 158,994 |  |  |  |  |  |  |  | 372,388 |
Used in dilutive EPS |  | $ | 21,752 |  |  |  | 19,958,612 |  |  | $ | 28,534 |  |  |  | 20,435,867 |
Basic earnings per common share |  | $ | 1.10 |  |  |  |  |  |  | $ | 1.42 |  |  |  |  |
Diluted earnings per common share |  |  | 1.09 |  |  |  |  |  |  |  | 1.40 |  |  |  |  |
Stock options for 378,709 shares and 76,500 shares of common stock were not considered in computing diluted earnings per common share for September 30, 2020 and 2019, respectively because they were anti-dilutive.

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