Note 10 - Earnings Per Share

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 10. Earnings Per Share

The computation of basic earnings per share is based on the weighted average number of common shares outstanding during the period, adjusted for stock splits. The computation of diluted earnings per share for the Company begins with the basic earnings per share and includes the effect of common shares contingently issuable from stock options.

The following is a summary of components comprising basic and diluted earnings per share (“EPS”) for the three and six months ended June 30, 2023 and 2022:

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(Dollars in Thousands Except Share and Per Share Amounts)				(Dollars in Thousands Except Share and Per Share Amounts)
Basic EPS Computation:
Numerator – Earnings available to common stockholders	$	12,389	$	14,139	$	26,230	$	25,512
Denominator – Weighted average number of common shares outstanding		11,576,716		11,339,057		11,560,199		11,307,763
Basic earnings per common share	$	1.07	$	1.25	$	2.27	$	2.26
Diluted EPS Computation:
Numerator – Earnings available to common stockholders	$	12,389	$	14,139	$	26,230	$	25,512
Denominator – Weighted average number of common shares outstanding		11,576,716		11,339,057		11,560,199		11,307,763
Dilutive effect of stock options, RSUs and PSUs		30,230		31,198		29,974		31,501
Weighted average diluted common shares outstanding		11,606,946		11,370,255		11,590,173		11,339,264
Diluted earnings per common share	$	1.07	$	1.24	$	2.26	$	2.25