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Earnings Per Share
 3 Months Ended
Mar. 31, 2024
Financial Instruments  
Earnings Per Share

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,

 

 

2024

 

 

2023

 

Basic

 

 

 

 

 

Net income

$

5,634

 

 

$

5,633

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

7,552,680

 

 

 

7,519,282

 

 

 

 

 

 

 

Basic earnings per common shares

$

0.75

 

 

$

0.75

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

Net income

$

5,634

 

 

$

5,633

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

7,552,680

 

 

 

7,519,282

 

Plus dilutive stock options and restricted stock units

 

47,336

 

 

 

33,047

 

 

 

 

 

 

 

Weighted average common shares outstanding and potentially dilutive shares

 

7,600,016

 

 

 

7,552,329

 

 

 

 

 

 

 

Diluted earnings per common share

$

0.74

 

 

$

0.75

 

 

There were 4,500 stock options that were considered anti-dilutive to earnings per share for the three months ended March 31 2024. There were no stock options that were considered anti-dilutive to earnings per share for the three months ended March 31, 2023.