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Note 4 - Earnings Per Share

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 4 – EARNINGS PER SHARE

Earnings per share are based on the weighted average number of shares outstanding during the period. A computation of basic earnings per share and diluted earnings per share follows:

		Three Months Ended								Six Months Ended
(Dollars in thousands, except share data)		June 30,								June 30,
		2020				2019				2020				2019
Basic
Net income		$	4,430			$	1,487			$	7,684			$	3,123
Weighted average common shares outstanding			7,254,591				3,628,916				7,251,205				3,623,651
Basic earnings per common shares		$	0.61			$	0.41			$	1.06			$	0.86
Diluted
Net income		$	4,430			$	1,487			$	7,684			$	3,123
Weighted average common shares outstanding			7,254,591				3,628,916				7,251,205				3,623,651
Plus dilutive stock options and restricted stock units			6,198				12,549				6,851				9,572
Weighted average common shares outstanding and potentially dilutive shares			7,260,789				3,641,465				7,258,056				3,633,223
Diluted earnings per common share		$	0.61			$	0.41			$	1.06			$	0.86

There were no stock options that were considered to be anti-dilutive to earnings per share as of June 30, 2020. There were 13,500 stock options that were considered to be anti-dilutive to earnings as of June 30, 2019 and were excluded from the calculation above.

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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