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Note 9 - Earnings Per Share
3 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

9.

Earnings per Share

 

Earnings per share is determined by dividing net income by the weighted average number of shares of common stock outstanding, giving retroactive effect to any stock dividends. The following table shows the weighted average number of shares used in computing earnings per share and the effect of weighted average number of shares of dilutive potential common stock. Dilutive potential common stock has no effect on income available to common shareholders. There were 206 restricted stock units included in weighted average dilutive shares for the three months ended March 31, 2024 and none for the three months ended March 31, 2023.

 

  

Three Months Ended

 
  

March 31,

 
  

2024

  

2023

 
         

Net income

 $1,219,987  $1,900,851 

Weighted average shares outstanding

  3,116,966   3,071,214 

Effect of dilutive restricted stock units

  206   - 

Weighted average shares outstanding

  3,117,172   3,071,214 

Earnings per share - basic

 $0.39  $0.62 

Earnings per share - diluted

 $0.39  $0.62