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Note 4 - Earnings Per Share | 9 Months Ended
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Sep. 30, 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 |  |  | Nine Months Ended |
(Dollars in thousands, except share data) |  | September 30, |  |  | September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Basic |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 5,813 |  |  | $ | 5,749 |  |  | $ | 16,956 |  |  | $ | 17,029 |
Weighted average common shares outstanding |  |  | 7,507,538 |  |  |  | 7,621,423 |  |  |  | 7,500,877 |  |  |  | 7,730,135 |
Basic earnings per common shares |  | $ | 0.77 |  |  | $ | 0.75 |  |  | $ | 2.26 |  |  | $ | 2.20 |
Diluted |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 5,813 |  |  | $ | 5,749 |  |  | $ | 16,956 |  |  | $ | 17,029 |
Weighted average common shares outstanding |  |  | 7,507,538 |  |  |  | 7,621,423 |  |  |  | 7,500,877 |  |  |  | 7,730,135 |
Plus dilutive stock options and restricted stock units |  |  | 12,820 |  |  |  | 12,644 |  |  |  | 17,279 |  |  |  | 13,766 |
Weighted average common shares outstanding and potentially dilutive shares |  |  | 7,520,358 |  |  |  | 7,634,067 |  |  |  | 7,518,156 |  |  |  | 7,743,901 |
Diluted earnings per common share |  | $ | 0.77 |  |  | $ | 0.75 |  |  | $ | 2.26 |  |  | $ | 2.20 |
There were 15,000 stock options that were considered anti-dilutive to earnings per share for the three and nine months ended September 30, 2022 and September 30, 2021. There were no performance awards or restricted stock units that were considered anti-dilutive for the three and nine months ended September 30, 2022 and September 30, 2021.

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