Note 2: Earnings Per Share

Basic earnings per common share are computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per common share are calculated by dividing net income by the weighted average number of shares adjusted for the dilutive effect of stock compensation. For the years ended December 31, 2019 and 2018, 303,000 and 130,000, respectively, of stock options were excluded from the calculation because they were deemed to be antidilutive. For the year ended December 31, 2017, no stock options were excluded from the calculation because none were considered antidilutive.

The following table presents the numerators and denominators for basic and diluted earnings per share computations for the years ended December 31, 2019, 2018 and 2017:


	Year Ended December 31,
	2019		2018		2017
Net Income Available to Common Shareholders	$	31,403	$	26,920	$	16,889
Weighted Average Common Stock Outstanding:
Weighted Average Common Stock Outstanding (Basic)		29,358,644		29,001,393		24,604,464
Dilutive Effect of Stock Compensation		638,132		434,821		413,226
Weighted Average Common Stock Outstanding (Dilutive)		29,996,776		29,436,214		25,017,690

Basic Earnings per Common Share	$	1.07	$	0.93	$	0.69
Diluted Earnings per Common Share		1.05		0.91		0.68