NET INCOME PER COMMON SHARE

12 Months Ended

Dec. 31, 2016

NET INCOME PER COMMON SHARE [Abstract]

NET INCOME PER COMMON SHARE

NOTE 19 - NET INCOME PER COMMON SHARE

	Year ended December 31,
	2016		2015		2014
	(thousands of dollars)
Net income	$	19,428	$	18,598	$	15,571
Basic earnings per common share:
Weighted average shares outstanding		24,284		24,370		24,188
Per share amount (dollars)	$	0.80	$	0.76	$	0.64
Diluted earnings per common share:
Weighted average shares outstanding		24,982		25,181		24,896
Per share amount (dollars)	$	0.78	$	0.74	$	0.63

Weighted average shares-denominator basic computation	24,284	24,370	24,188
Unvested restricted stock grant	310	141	-
Effect of dilutive stock options	388	670	708
Weighted average shares, as adjusted denominator diluted computation	24,982	25,181	24,896

At December 31, 2016, 2015, and 2014, 1,348,437, 1,376,437 and 1,598,191 potential common stock shares, respectively, were issuable upon the exercise of options and warrants.

The earnings per share calculations for the periods ended December 31, 2016, 2015, and 2014, include 284,011, 300,000 and 300,000 shares held in the treasury.