NOTE 4: EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2020

Notes

NOTE 4: EARNINGS PER SHARE

NOTE 4: EARNINGS PER SHARE

	Three Months Ended September 30,
	2020		2019
	(In Thousands, Except Per Share Data)
Basic:
Average common shares outstanding		14,053		14,210
Net income and net income available to common stockholders	$	13,454	$	19,732
Per common share amount	$	0.96	$	1.39
Diluted:
Average common shares outstanding		14,053		14,210
Net effect of dilutive stock options – based on the treasury
stock method using average market price		32		107
Diluted common shares		14,085		14,317
Net income and net income available to common stockholders	$	13,454	$	19,732
Per common share amount	$	0.96	$	1.38

	Nine Months Ended September 30,
	2020		2019
	(In Thousands, Except Per Share Data)
Basic:
Average common shares outstanding		14,119		14,187
Net income and net income available to common stockholders	$	41,525	$	55,720
Per common share amount	$	2.94	$	3.93
Diluted:
Average common shares outstanding		14,119		14,187
Net effect of dilutive stock options – based on the treasury
stock method using average market price		46		110
Diluted common shares		14,165		14,297
Net income and net income available to common stockholders	$	41,525	$	55,720
Per common share amount	$	2.93	$	3.90

Options outstanding at September 30, 2020 and 2019, to purchase 654,369 and 328,275 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for the three month periods then ended because the exercise prices of such options were greater than the average market prices of the common stock for the three months ended September 30, 2020 and 2019, respectively.  Options outstanding at September 30, 2020 and 2019, to purchase 650,869 and 318,275 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for the nine month periods then ended because the exercise prices of such options were greater than the average market prices of the common stock for the nine months ended September 30, 2020 and 2019, respectively.