Note 5 - Earnings Per Share

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

5 – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):

	Three Months Ended March 31,
	2020		2019
Numerator:
Numerator for basic and diluted earnings per share –
Net income available to common shareholders	$	23,107	$	37,104
Denominator:
Denominator for basic earnings per share – weighted average shares outstanding		36,485		36,817
Effect of dilutive securities–
Employee and director stock options and restricted share awards		841		1,017
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions		37,326		37,834
Basic earnings per common share	$	0.63	$	1.01
Diluted earnings per common share and common share equivalents	$	0.62	$	0.98

Options to purchase shares of common stock that were outstanding for the three months ended March 31, 2020 and 2019 that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive are as follows (in thousands):

	March 31, 2020		March 31, 2019
Weighted average anti-dilutive options		1,194		974