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Note 4 - Earnings Per Share

9 Months Ended

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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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI https://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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