Note 16 - Earnings Per Share

12 Months Ended

Dec. 31, 2023

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 2023.

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

	2023	2022	2021
Numerator (in thousands)
Net income	16,635	16,473	14,788
Denominator
Weighted average shares, basic	3,629	3,637	3,647
Dilutive effect of stock options	8	6	13
Diluted shares	3,637	3,643	3,660
Earnings per share, basic	4.58	4.53	4.05
Earnings per share, diluted	4.57	4.52	4.04