Earnings Per Share

9 Months Ended

Sep. 30, 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 September 30,
	2021					2020
Basic:	Income			Shares		Income			Shares
Net Income	$	11,476			17,491	$	12,737			17,466
Preferred Dividend		(30	)				(30	)
Earnings Applicable to Common Stock	$	11,446			17,491	$	12,707			17,466

Basic EPS	$	0.65				$	0.73

Diluted:
Earnings Applicable to Common Stock	$	11,446			17,491	$	12,707			17,466
$7.00 Series Preferred Dividend		17			115		17			115
Adjusted Earnings Applicable to Common Stock	$	11,463			17,606	$	12,724			17,581

Diluted EPS	$	0.65				$	0.72

	(In Thousands Except per Share Amounts)
	Nine Months Ended September 30,
	2021					2020
Basic:	Income			Shares		Income			Shares
Net Income	$	29,305			17,485	$	30,118			17,455
Preferred Dividend		(90	)				(90	)
Earnings Applicable to Common Stock	$	29,215			17,485	$	30,028			17,455

Basic EPS	$	1.67				$	1.72

Diluted:
Earnings Applicable to Common Stock	$	29,215			17,485	$	30,028			17,455
$7.00 Series Preferred Dividend		50			115		50			115
Adjusted Earnings Applicable to Common Stock	$	29,265			17,600	$	30,078			17,570

Diluted EPS	$	1.66				$	1.71