Earnings Per Share

3 Months Ended

Mar. 31, 2022

Notes

Earnings Per Share

(8) 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 first quarter 2022.

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

(in thousands)	Three months ended
	March 31,
	2022	2021
Numerator
Net income	3,534	3,024
Denominator
Weighted average shares, basic	3,655	3,644
Dilutive effect of stock options	10	11
Diluted shares	3,665	3,655
Earnings per share, basic	$ 0.97	$ 0.83
Earnings per share, diluted	$ 0.96	$ 0.83