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Note 14 - Earnings Per Share | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Earnings Per Share [Text Block] |
14. | EARNINGS PER SHARE
Basic earnings per common share was computed by dividing net income by the weighted average number of shares outstanding (on a stock split adjusted basis) during the period. Diluted earnings per common share was calculated as follows:
|  | For the Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | (in thousands, except per share data) |
Net income |  | $ | 90,672 |  |  | $ | 76,516 |  |  | $ | 17,827 |
Basic weighted average common shares outstanding(1) |  |  | 22,246 |  |  |  | 22,715 |  |  |  | 23,008 |
Dilutive effect of common stock equivalents |  |  | 190 |  |  |  | 149 |  |  |  | 64 |
Diluted weighted average common shares outstanding(1) |  |  | 22,436 |  |  |  | 22,864 |  |  |  | 23,072 |
Basic earnings per share |  | $ | 4.08 |  |  | $ | 3.37 |  |  | $ | 0.77 |
Diluted earnings per share |  | $ | 4.04 |  |  | $ | 3.35 |  |  | $ | 0.77 |
(1) As adjusted for the Company’s 2-for-1 forward stock splits paid in August 2021 and March 2022, respectively.

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