Earnings Per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share

Earnings Per Share

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 three and six months ended June 30, 2020, stock options and restricted stock awards of approximately 561,000 and 560,000, respectively, were excluded from the calculation because their effect would have been anti-dilutive. For the three and six months ended June 30, 2019, stock options of approximately 135,000 were excluded from the calculation because their effect would have been anti-dilutive.

The following table presents the numerators and denominators for basic and diluted earnings per share computations for the three and six months ended June 30, 2020 and 2019:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Net Income Available to Common Shareholders	$	7,598	$	8,009	$	15,041	$	15,027
Weighted Average Common Stock Outstanding:
Weighted Average Common Stock Outstanding (Basic)		28,676,441		29,703,024		28,733,968		29,899,241
Dilutive Effect of Stock Compensation		488,716		609,015		616,458		610,939
Weighted Average Common Stock Outstanding (Dilutive)		29,165,157		30,312,039		29,350,426		30,510,180
Basic Earnings per Common Share	$	0.26	$	0.27	$	0.52	$	0.50
Diluted Earnings per Common Share		0.26		0.26		0.51		0.49