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Note 4 - Earnings Per Share
 3 Months Ended
Mar. 31, 2022
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

 

(Dollars in thousands, except share data)

 

March 31,

 
  

2022

  

2021

 

Basic

        

Net income

 $5,528  $6,238 
         

Weighted average common shares outstanding

  7,495,464   7,801,058 
         

Basic earnings per common shares

 $0.74  $0.80 
         

Diluted

        

Net income

 $5,528  $6,238 
         

Weighted average common shares outstanding

  7,495,464   7,801,058 

Plus dilutive stock options and restricted stock units

  21,461   9,732 
         

Weighted average common shares outstanding and potentially dilutive shares

  7,516,925   7,810,790 
         

Diluted earnings per common share

 $0.74  $0.80 

 

There were 12,000 stock options that were considered anti-dilutive to earnings per share for the three months ended  March 31, 2022.  There were no stock options that were considered to be anti-dilutive to earnings per share for the three months ended March 31, 2021.  There were no restricted stock units that were considered anti-dilutive to earnings per share during either the three months ended March 31, 2022 or March 31, 2021.