Note 14 - Earnings Per Share

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

14. EARNINGS PER SHARE

Basic earnings per common share was computed by dividing net income by the weighted average number of shares outstanding (on a stock split adjusted basis) during the period. Diluted earnings per common share was calculated as follows:

	For the Year Ended December 31,
	2021		2020		2019
	(in thousands, except per share data)
Net income	$	76,516	$	17,827	$	7,900
Basic weighted average common shares outstanding(1)		11,357		11,504		11,663
Dilutive effect of common stock equivalents		75		32		97
Diluted weighted average common shares outstanding(1)		11,432		11,536		11,760
Basic earnings per share	$	6.74	$	1.55	$	0.68
Diluted earnings per share	$	6.69	$	1.55	$	0.67

⁽¹⁾ As adjusted for the Company’s 2-for-1 forward stock split paid in August 2021