Note 4 - Earnings Per Share

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

4 – 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,
	2021		2020
Numerator:
Numerator for basic and diluted earnings per share – Net income available to common shareholders	$	45,333	$	23,107
Denominator:
Denominator for basic earnings per share – weighted average shares outstanding		55,567		54,727
Effect of dilutive securities–
Employee and director stock options and restricted share awards		2,167		1,262
Denominator for diluted earnings per share – adjusted weighted average shares outstanding and assumed conversions		57,734		55,989
Basic earnings per common share	$	0.82	$	0.42
Diluted earnings per common share and common share equivalents	$	0.79	$	0.41

Options to purchase shares of common stock that were outstanding for the three months ended March 31, 2021 and 2020 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, 2021		March 31, 2020
Weighted average anti-dilutive options		131		1,792