XML 37 R26.htm IDEA: XBRL DOCUMENT

Note 19 - Earnings Per Share

9 Months Ended

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.