Note 22 - Earnings Per Common Share

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE

22

. EARNINGS PER COMMON SHARE

The following table presents a computation of basic and diluted earnings per share for the years ended

December 31, 2019

and

2018.

(Amounts in thousands, except per share information)
Earnings Per Share	2019		2018
Numerators:
Net income	$	14,961	$	15,730
Denominators:
Weighted average number of common shares outstanding - basic (1)		17,956		16,248
Effect of potentially dilutive common shares (2)		68		84
Weighted average number of common shares outstanding - diluted		18,024		16,332
Earnings per common share:
Basic	$	0.83	$	0.97
Diluted	$	0.83	$	0.96
Anti-dilutive options not included in earnings per share calculation		—		—
Anti-dilutive restricted shares not included in diluted earnings per share calculation		—		—

(

1

)

Excludes unvested restricted shares because they do

not

have dividend or voting rights.

(

2

)

Represents the effects of the assumed exercise of stock options and vesting of non-participating restricted shares.

During the

fourth

quarter of

2019

we repurchased

90,501

shares of common stock as part of our previously announced share repurchase program.