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Earnings Per Common Share | 6 Months Ended
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Jun. 30, 2024
Earnings per common share |
Earnings Per Common Share | NOTE 8 – Earnings Per Common Share The following schedule reconciles the numerators and denominators of the basic and diluted earnings per share computations for the three and six month periods ended June 30, 2024 and 2023. Dilutive common shares arise from the potentially dilutive effect of the Company’s stock options that were outstanding at June 30, 2024. The assumed conversion of stock options can create a difference between basic and dilutive net income per common share. At June 30, 2024 and 2023, there were 266,974 and 386,003 options, respectively, that were not considered in computing diluted earnings per common share because they were anti-dilutive.
Schedule of earnings per share calculation |  |  |  |  |  |  |  |  |  |  |  |
|  | Three months ended June 30, |  |  | Six months ended June 30, |
(dollars in thousands, except share data) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders | $ | 2,999 |  |  | 2,458 |  | $ | 5,521 |  |  | 5,161 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding – basic |  | 8,125,869 |  |  | 8,051,131 |  |  | 8,118,059 |  |  | 8,038,642 |
Common stock equivalents |  | 14,953 |  |  | 17,897 |  |  | 23,312 |  |  | 41,879 |
Weighted-average common shares outstanding – diluted |  | 8,140,822 |  |  | 8,069,028 |  |  | 8,141,371 |  |  | 8,080,521 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.37 |  |  | 0.31 |  | $ | 0.68 |  |  | 0.64 |
Diluted |  | 0.37 |  |  | 0.31 |  |  | 0.68 |  |  | 0.64 |

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