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Note 14 - Earnings Per Share
 12 Months Ended
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.