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EARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share

The computations of basic and diluted earnings per share for the Company were as follows (in thousands except per share amounts) as of December 31:

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

2020

 

 

2019

 

Numerator:

 

 

 

 

 

 

 

 

 

Net earnings (basic)

 

$

39,806

 

 

$

27,402

 

 

$

26,279

 

Net earnings (diluted)

 

$

39,806

 

 

$

27,402

 

 

$

26,279

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding (basic)*

 

 

12,065,182

 

 

 

12,219,420

 

 

 

12,802,787

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Common stock equivalent shares from stock options*

 

 

146,576

 

 

 

36,059

 

 

 

72,822

 

Weighted-average shares outstanding (diluted)*

 

 

12,211,758

 

 

 

12,255,480

 

 

 

12,875,609

 

 

 

 

 

 

 

 

 

 

 

Net earnings per share

 

 

 

 

 

 

 

 

 

Basic

 

$

3.30

 

 

$

2.25

 

 

$

2.05

 

Diluted

 

$

3.26

 

 

$

2.24

 

 

$

2.05

 

 

 

 

 

 

 

 

 

 

 

* Periods prior to the stock dividend issued during the first quarter of 2021 have been adjusted to give effect to the 10% stock dividend.