Earnings Per Share

12 Months Ended

Dec. 31, 2020

The computation of basic and diluted earnings per common share is shown below. There were no anti-dilutive stock options for the years ended December 31, 2020, December 31, 2019, and December 31, 2018.


	Years Ended December 31,
	2020		2019		2018
Basic earnings per common share computation
Net income per consolidated statements of income	$	31,596	$	40,081	$	33,719
Net earnings allocated to participating securities	(100)		(147)		(150)
Net earnings allocated to common stock	$	31,496	$	39,934	$	33,569
Distributed earnings allocated to common stock	$	10,942	$	10,317	$	10,186
Undistributed earnings allocated to common stock	20,554		29,617		23,383
Net earnings allocated to common stock	$	31,496	$	39,934	$	33,569
Weighted average common shares outstanding, including shares considered participating securities	16,048		15,219		15,274
Less: Average participating securities	(48)		(55)		(64)
Weighted average shares	16,000		15,164		15,210
Basic earnings per common share	$	1.97	$	2.63	$	2.21
Diluted earnings per common share computation
Net earnings allocated to common stock	$	31,496	$	39,934	$	33,569
Weighted average common shares outstanding for basic earnings per common share	16,000		15,164		15,210
Add: Dilutive effects of assumed exercises of stock options	0		0		0
Weighted average shares and dilutive potential common shares	16,000		15,164		15,210
Diluted earnings per common share	$	1.97	$	2.63	$	2.21