Per Share Data

9 Months Ended

Sep. 30, 2020

There are no convertible securities which would affect the denominator in calculating basic and dilutive earnings per share. There were a total of 864,300 stock options, with an average exercise price of $28.20, outstanding on September 30, 2020. These options were excluded, on a weighted average basis, in the computation of diluted earnings per share for the three and nine month periods due to the average market price of common shares of $20.84 and $24.20, respectively, exceeding the exercise price of the options issued. There were a total of 635,550 stock options outstanding for the same period end in 2019 that had an average exercise price of $29.30 and were excluded, on a weighted average basis, in the computation of diluted earnings per share because the quarterly average closing market price of common shares was $28.44 for the period.


	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
Weighted average common shares issued	7,525,561	7,517,280	7,522,803	7,516,406
Weighted average treasury stock shares	(480,225)	(480,225)	(480,225)	(480,225)
Weighted average common shares outstanding - basic	7,045,336	7,037,055	7,042,578	7,036,181
Dilutive effect of outstanding stock options	—	—	—	—
Weighted average common shares outstanding - basic and diluted	7,045,336	7,037,055	7,042,578	7,036,181