Earnings Per Share

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Earnings Per Share

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.

9

	(In Thousands Except per Share Amounts)
	Three Months Ended June 30,
	2021					2020
Basic:	Income			Shares		Income			Shares
Net Income	$	10,923			17,488	$	9,713			17,462
Preferred Dividend		(30	)				(30	)
Earnings Applicable to Common Stock	$	10,893			17,488	$	9,683			17,462
Basic EPS	$	0.62				$	0.55
Diluted:
Earnings Applicable to Common Stock	$	10,893			17,488	$	9,683			17,462
$7.00 Series Preferred Dividend		17			115		17			115
Adjusted Earnings Applicable to Common Stock	$	10,910			17,603	$	9,700			17,577
Diluted EPS	$	0.62				$	0.55

	Six Months Ended June 30,
	2021					2020
Basic:	Income			Shares		Income			Shares
Net Income	$	17,828			17,482	$	17,381			17,449
Preferred Dividend		(60	)				(60	)
Earnings Applicable to Common Stock	$	17,768			17,482	$	17,321			17,449
Basic EPS	$	1.02				$	0.99
Diluted:
Earnings Applicable to Common Stock	$	17,768			17,482	$	17,321			17,449
$7.00 Series Preferred Dividend		34			115		34			115
Adjusted Earnings Applicable to Common Stock	$	17,802			17,597	$	17,355			17,564
Diluted EPS	$	1.01				$	0.99