Note 10 - Earnings Per Share

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 10 – Earnings Per Share

Earnings per share are computed using the two-class method. Basic earnings per share is computed by dividing net income allocated to common shares by the weighted average number of common shares outstanding during the applicable period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding adjusted for the dilutive effect of all potential common shares.

There were 508,000 and 161,000 antidilutive shares of common stock for the three months ended March 31, 2024 and 2023, respectively.   

Presented below are the calculations for basic and diluted earnings per share:

	Three months ended March 31,
	2024		2023
	(In Thousands, except per share amounts)
Net income	$	3,038	$	2,155
Weighted average shares outstanding		19,021		20,890
Effect of dilutive potential common shares		15		90
Diluted weighted average shares outstanding	$	19,036	$	20,980
Basic earnings per share	$	0.16	$	0.10
Diluted earnings per share	$	0.16	$	0.10