Note 13 - Earnings Per Share

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

13. EARNINGS PER SHARE

Basic earnings per share ("EPS") is computed by dividing net income applicable to common shareholders by the weighted average number of common shares outstanding during each period. The diluted earnings per share computation includes common share equivalents, when dilutive.

A reconciliation of the shares used in the basic and diluted income per common share computation for the three and six months ended June 30, 2023 and 2022 is as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(shares in thousands)	2023		2022		2023		2022
Basic - weighted average shares outstanding		7,354		7,313		7,350		7,310
Dilutive stock options(1) (2)		-		76		-		90
Diluted - weighted average shares outstanding(1) (2)		7,354		7,389		7,350		7,400
Anti-dilutive securities		283		104		283		299

⁽¹⁾ Due to a loss for the three months ended June 30, 2023, zero dilutive stock options are included for the period because the effect would be antidilutive.

⁽²⁾ Due to a loss for the six months ended June 30, 2023, zero dilutive stock options are included for the period because the effect would be antidilutive.