Note 7 - Earnings Per Share

3 Months Ended

Mar. 31, 2019

EARNINGS PER SHARE

Basic earnings per share is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, result in the issuance of common stock which shares in the earnings of the Company. The treasury stock method has been applied to determine the dilutive effect of stock options in computing diluted earnings per share.

	For the Three Months
	Ended March 31,
(In thousands, except per share data)	2019		2018
Net Income:
Net income	$	3,818	$	3,280
Earnings Per Share:
Basic earnings per share	$	0.74	$	0.65
Diluted earnings per share	$	0.73	$	0.63
Weighted Average Number of Shares Outstanding:
Basic shares		5,144		5,071
Diluted shares		5,225		5,208

Stock options

not

included in the computation of diluted earnings per share, due to shares

not

being in the-money and having an antidilutive effect, were

71,100

and

for the

three

months ended

March 31, 2019

and

2018,

respectively.