Note 16 - Earnings Per Share

12 Months Ended

Dec. 31, 2020

Notes

Note 16 - Earnings Per Share

Note 16 – Earnings Per Share

Basic earnings per share is calculated by dividing net income attributable to the common stockholders of the company by the weighted average number of common shares outstanding during the period.  Diluted earnings per share is calculated by assuming the exercise of stock options at the closing price of stock at the end of 2020.

The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:

	2020	2019	2018
Numerator (in thousands)
Net income	10,798	14,727	18,555
Denominator
Weighted average shares, basic	3,658	3,721	3,730
Dilutive effect of stock options	14	18	18
Diluted shares	3,672	3,739	3,748
Earnings per share, basic	2.95	3.96	4.97
Earnings per share, diluted	2.94	3.94	4.95