Note 16 - Earnings Per Share

12 Months Ended

Dec. 31, 2021

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 2021.

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

	2021	2020	2019
Numerator (in thousands)
Net income	14,788	10,798	14,727
Denominator
Weighted average shares, basic	3,647	3,658	3,721
Dilutive effect of stock options	13	14	18
Diluted shares	3,660	3,672	3,739
Earnings per share, basic	4.05	2.95	3.96
Earnings per share, diluted	4.04	2.94	3.94