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Note 4 - Per Share Data | 12 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Earnings Per Share [Text Block] | 4. PER SHARE DATA Basic earnings per common share are calculated using the two -class method to determine income attributable to common shareholders. Unvested restricted stock awards that contain nonforfeitable rights to dividends are considered participating securities under the two -class method. Distributed dividends and an allocation of undistributed net income to participating securities reduce the amount of income attributable to common shareholders. Income attributable to common shareholders is then divided by weighted-average common shares outstanding for the period to determine basic earnings per common share. Diluted earnings per common share are calculated under the more dilutive of either the treasury method or the two -class method. Diluted earnings per common share is computed using weighted-average common shares outstanding, plus weighted-average common shares available from the exercise of all dilutive stock options, less the number of shares that could be repurchased with the proceeds of stock option exercises based on the average share price of the Corporation's common stock during the period.
|  | Years Ended |
|  | Dec. 31, |  |  | Dec. 31, |
|  | 2019 |  |  | 2018 |
Basic |  |  |  |  |  |  |  |
Net income |  | $ | 19,504,000 |  |  | $ | 22,013,000 |
Less: Dividends and undistributed earnings allocated to participating securities |  |  | (100,000 | ) |  |  | (110,000 | )
Net income attributable to common shares |  | $ | 19,404,000 |  |  | $ | 21,903,000 |
Basic weighted-average common shares outstanding |  |  | 13,298,736 |  |  |  | 12,219,209 |
Basic earnings per common share (a) |  | $ | 1.46 |  |  | $ | 1.79 |
Diluted |  |  |  |  |  |  |  |
Net income attributable to common shares |  | $ | 19,404,000 |  |  | $ | 21,903,000 |
Basic weighted-average common shares outstanding |  |  | 13,298,736 |  |  |  | 12,219,209 |
Dilutive effect of potential common stock arising from stock options |  |  | 22,823 |  |  |  | 38,159 |
Diluted weighted-average common shares outstanding |  |  | 13,321,559 |  |  |  | 12,257,368 |
Diluted earnings per common share (a) |  | $ | 1.46 |  |  | $ | 1.79 |
(a) Basic and diluted earnings per share under the two -class method are determined on net income reported on the income statement less earnings allocated to nonvested restricted shares with nonforfeitable dividends (participating securities). The weighted-average number of nonvested restricted shares outstanding was 68,358 shares in 2019 and 61,778 shares in 2018. Stock options that are anti-dilutive are excluded from net income per share calculations. There were no anti-dilutive instruments in 2019 or 2018.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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