Earnings Per Share

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Earnings Per Share

Note R - Earnings Per Share

Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding during the year.

In 2017, 2016, and 2015, options and warrants to purchase 274,000, 131,000, and 456,000 shares, respectively, were antidilutive and accordingly were excluded in determining diluted earnings per share.

 

	For the Year Ended December 31
(In thousands, except per share data)	2017		2016		2015
Basic earnings per share
Net Income	$	42,865	$	29,202	$	22,141
Total weighted average common stock outstanding		42,613		36,872		33,496
Net income per share	$	1.01	$	0.79	$	0.66
Diluted earnings per share
Net Income	$	42,865	$	29,202	$	22,141
Total weighted average common stock outstanding	$	42,613	$	36,872	$	33,496
Add: Dilutive effect of employee restricted stock and stock options (See Note J)		737		636		248
Total weighted average diluted stock outstanding		43,350		37,508		33,744
Net income per share	$	0.99	$	0.78	$	0.66