Earnings Per Share

3 Months Ended

Mar. 31, 2021

Note 4 – Earnings Per Share

Basic earnings per share (EPS) are computed on the basis of the weighted average number of shares outstanding during the period presented. Diluted EPS assumes the conversion of the Convertible Preferred Stock $7.00 Series.

	(In Thousands Except per Share Amounts)
	Three Months Ended March 31,
	2021					2020
Basic:	Income			Shares		Income			Shares
Net Income	$	6,907			17,476	$	7,668			17,437
Preferred Dividend		(30	)				(30	)
Earnings Applicable to Common Stock	$	6,877			17,476	$	7,638			17,437

Basic EPS	$	0.39				$	0.44

Diluted:
Earnings Applicable to Common Stock	$	6,877			17,476	$	7,638			17,437
$7.00 Series Preferred Dividend		17			115		17			115
Adjusted Earnings Applicable to Common Stock	$	6,894			17,591	$	7,655			17,552

Diluted EPS	$	0.39				$	0.44