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Note 4 - Earnings Per Share
 6 Months Ended
Jun. 30, 2021
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,

 
  

2021

  

2020

  

2021

  

2020

 

Basic

                

Net income

 $5,043  $4,430  $11,281  $7,684 
                 

Weighted average common shares outstanding

  7,769,485   7,254,591   7,785,098   7,251,205 
                 

Basic earnings per common shares

 $0.65  $0.61  $1.45  $1.06 
                 

Diluted

                

Net income

 $5,043  $4,430  $11,281  $7,684 
                 

Weighted average common shares outstanding

  7,769,485   7,254,591   7,785,098   7,251,205 

Plus dilutive stock options and restricted stock units

  9,600   6,198   10,577   6,851 
                 

Weighted average common shares outstanding and potentially dilutive shares

  7,779,085   7,260,789   7,795,675   7,258,056 
                 

Diluted earnings per common share

 $0.65  $0.61  $1.45  $1.06 

 

There were 15,000 stock options that were considered anti-dilutive to earnings per share for the three months ended  June 30, 2021 and 12,000 stock options that were considered anti-dilutive to earnings per share for the six months ended June 30, 2021. There were no stock options that were considered to be anti-dilutive to earnings per share for the three and six months ended  June 30, 2020.  There were 18,985 restricted stock units that were considered anti-dilutive for the three months ended June 30, 2021.  There were no restricted stock units that were considered anti-dilutive for the six months ended June 30, 2021 or for the three and six months ended June 30, 2020.