Note 9 - Earnings Per Share

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 9 - Earnings per Share

Earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding. A reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations for the quarter and six months ended 2024 and 2023, are as follows:

	Quarter ended				Six months ended
(dollars in thousands except per share data)	June 30,				June 30,
	2024		2023		2024		2023
Basic earnings per common share:
Net income as reported	$	143	$	2,438	$	9,423	$	4,678
Weighted average common shares outstanding		4,259,695		4,250,304		4,258,181		4,248,522
Basic earnings per common share	$	0.03	$	0.57	$	2.21	$	1.10
Diluted earnings per common share:
Net income as reported	$	143	$	2,438	$	9,423	$	4,678
Weighted average common shares outstanding		4,259,695		4,250,304		4,258,181		4,248,522
Add: Dilutive effect of unvested restricted stock awards		11,357		8,307		8,234		10,448
Weighted average common and dilutive potential common shares outstanding		4,271,052		4,258,611		4,266,415		4,258,970
Diluted earnings per common share	$	0.03	$	0.57	$	2.21	$	1.10