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Note 4 - Earnings Per Share | 9 Months Ended
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Sep. 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 |  |  | Nine Months Ended |
(Dollars in thousands, except share data) |  | September 30, |  |  | September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Basic |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 5,749 |  |  | $ | 3,829 |  |  | $ | 17,029 |  |  | $ | 11,513 |
Weighted average common shares outstanding |  |  | 7,621,423 |  |  |  | 7,783,005 |  |  |  | 7,730,135 |  |  |  | 7,429,765 |
Basic earnings per common shares |  | $ | 0.75 |  |  | $ | 0.49 |  |  | $ | 2.20 |  |  | $ | 1.55 |
Diluted |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 5,749 |  |  | $ | 3,829 |  |  | $ | 17,029 |  |  | $ | 11,513 |
Weighted average common shares outstanding |  |  | 7,621,423 |  |  |  | 7,783,005 |  |  |  | 7,730,135 |  |  |  | 7,429,765 |
Plus dilutive stock options and restricted stock units |  |  | 12,644 |  |  |  | 7,460 |  |  |  | 13,766 |  |  |  | 7,888 |
Weighted average common shares outstanding and potentially dilutive shares |  |  | 7,634,067 |  |  |  | 7,790,465 |  |  |  | 7,743,901 |  |  |  | 7,437,653 |
Diluted earnings per common share |  | $ | 0.75 |  |  | $ | 0.49 |  |  | $ | 2.20 |  |  | $ | 1.55 |
There were 15,000 stock options that were considered anti-dilutive to earnings per share for the three and nine months ended September 30, 2021. 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 restricted stock units that were considered anti-dilutive to earnings per share during either the three months or nine months ended September 30, 2021 or September 30, 2020.

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