Note 2 - Per Share Data

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

2. PER SHARE DATA

Net income per share is based on the weighted-average number of shares of common stock outstanding. The following data show the amounts used in computing basic and diluted net income per share. As shown in the table that follows, diluted earnings per share is computed using weighted average common shares outstanding, plus weighted-average common shares available from the exercise of all dilutive stock options, less the number of shares that could be repurchased with the proceeds of stock option exercises based on the average share price of the Corporation's common stock during the period.

		Weighted-
		Average		Earnings
	Net	Common		Per
	Income	Shares		Share
Six Months Ended June 30, 2015
Earnings per share – basic	$8,172,000	12,233,964		$0.67
Dilutive effect of potential common stock arising from stock options:
Exercise of outstanding stock options		218,115
Hypothetical share repurchase at $19.97		(196,407	)
Earnings per share – diluted	$8,172,000	12,255,672		$0.67
Six Months Ended June 30, 2014
Earnings per share – basic	$8,451,000	12,429,717		$0.68
Dilutive effect of potential common stock arising from stock options:
Exercise of outstanding stock options		239,291
Hypothetical share repurchase at $19.25		(217,549	)
Earnings per share – diluted	$8,451,000	12,451,459		$0.68

		Weighted-
		Average		Earnings
	Net	Common		Per
	Income	Shares		Share
Three Months Ended June 30, 2015
Earnings per share – basic	$4,357,000	12,199,996		$0.36
Dilutive effect of potential common stock arising from stock options:
Exercise of outstanding stock options		205,024
Hypothetical share repurchase at $20.15		(182,494	)
Earnings per share – diluted	$4,357,000	12,222,526		$0.36
Three Months Ended June 30, 2014
Earnings per share – basic	$4,163,000	12,441,679		$0.33
Dilutive effect of potential common stock arising from stock options:
Exercise of outstanding stock options		174,840
Hypothetical share repurchase at $18.81		(157,135	)
Earnings per share – diluted	$4,163,000	12,459,384		$0.33

Stock options that were anti-dilutive were excluded from net income per share calculations. Weighted-average common shares available from anti-dilutive instruments totaled 75,539 shares in the six-month period ended June 30, 2015, 169,448 shares in the six-month period ended June 30, 2014, 47,974 shares in the second quarter 2015 and 200,672 shares in the second quarter 2014.