EARNINGS PER COMMON SHARE

9 Months Ended

Sep. 30, 2016

NOTE 7 - EARNINGS PER SHARE

Earnings per common share (EPS) were computed as follows:


	2016					2015
	Net		Average	Share		Net		Average	Share
Three Months Ended September 30,	Income		Shares	Amount		Income		Shares	Amount
Basic Earnings Per Common Share
Net income	$	11,696	24,016,237	$	0.49	$	9,111	21,615,263	$	0.42
Effect of dilutive warrants			202,238					171,062
Effect of dilutive stock options			103,137					110,636
Diluted Earnings Per Common Share
Net income attributable to common shareholders and assumed conversions	$	11,696	24,321,612	$	0.48	$	9,111	21,896,961	$	0.42

There were no antidilutive options in the three month periods ending September 30, 2016 or 2015.


	2016					2015
	Net		Average	Share		Net		Average	Share
Nine Months Ended September 30,	Income		Shares	Amount		Income		Shares	Amount
Basic Earnings Per Common Share
Net income	$	26,579	22,786,961	$	1.17	$	26,434	21,658,088	$	1.22
Effect of dilutive warrants			182,327					152,171
Effect of dilutive stock options			101,777					103,053
Diluted Earnings Per Common Share
Net income attributable to common shareholders and assumed conversions	$	26,579	23,071,065	$	1.15	$	26,434	21,913,312	$	1.21

Stock options for 10,210 common shares in 2015 were not considered in computing diluted earnings per share because they were antidilutive. There were no antidilutive options in 2016.