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Note 17 - Earnings Per Share
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 17. Earnings per Share

 

The following table presents the calculation of basic and diluted earnings per common share for the periods indicated:

 

   

Year Ended December 31,

  
   

2023

    

2022

    

2021

  

(Amounts in thousands, except share and per share data)

                        

Net income

   $ 48,020     $ 46,662     $ 51,168  

Adjustment to Net Income for Fair Value Changes to Restricted Stock Units (tax-effected)

     1,100       -       -  

Adjusted Net Income for diluted earnings per share

   $ 49,120     $ 46,662     $ 51,168  
                         

Weighted average common shares outstanding, basic

     17,996,373       16,519,848       17,335,615  

Dilutive effect of potential common shares

                        

Stock options

     15,856       18,784       30,854  

Restricted stock and units

     14,922       23,625       36,467  

Total dilutive effect of potential common shares

     30,778       42,409       67,321  

Weighted average common shares outstanding, diluted

     18,027,151       16,562,257       17,402,936  
                         

Basic earnings per common share

   $ 2.67     $ 2.82     $ 2.95  

Diluted earnings per common share

     2.72       2.82       2.94  
                         

Potential antidilutive common shares

                        

Stock options

     129,324       131,198       103,520  

Restricted stock and units

     32,706       —       630  

Total potential antidilutive shares

     162,030       131,198       104,150