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Note 4 - Earnings Per Share
 9 Months Ended
Sep. 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

  

Nine Months Ended

 

(Dollars in thousands, except share data)

 

September 30,

  

September 30,

 
  

2020

  

2019

  

2020

  

2019

 

Basic

                

Net income

 $3,829  $1,021  $11,513  $4,144 
                 

Weighted average common shares outstanding

  7,783,005   3,633,474   7,429,765   3,626,961 
                 

Basic earnings per common shares

 $0.49  $0.28  $1.55  $1.14 
                 

Diluted

                

Net income

 $3,829  $1,021  $11,513  $4,144 
                 

Weighted average common shares outstanding

  7,783,005   3,633,474   7,429,765   3,626,961 

Plus dilutive stock options and restricted stock units

  7,460   23,964   7,888   19,870 
                 

Weighted average common shares outstanding and potentially dilutive shares

  7,790,465   3,657,438   7,437,653   3,646,831 
                 

Diluted earnings per common share

 $0.49  $0.28  $1.55  $1.14 

 

There were no stock options that were considered to be anti-dilutive to earnings per share for the three and nine months ended September 30, 2020.  There were no stock options that were considered to be anti-dilutive to earnings for the three months ended September 30, 2019 and 13,500 that were considered to be anti-dilutive to earnings for the nine months ended September 30, 2019 and were excluded from the calculation above.