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Earnings Per Common Share | 9 Months Ended
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Sep. 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 nine-month periods ended September 30, 2024 and 2023. Dilutive common shares arise from the potentially dilutive effect of the Company’s stock options that were outstanding at September 30, 2024. The assumed conversion of stock options can create a difference between basic and dilutive net income per common share. At September 30, 2024 and 2023, there were 263,387 and 351,746 options, respectively, that were not considered in computing diluted earnings per common share because they were anti-dilutive.
Schedule of earnings per share computations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
(dollars in thousands, except share data) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders |  | $ | 4,382 |  |  |  | 4,098 |  |  | $ | 9,903 |  |  |  | 9,259 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding – basic |  |  | 8,064,283 |  |  |  | 8,052,926 |  |  |  | 8,100,003 |  |  |  | 8,043,410 |
Common stock equivalents |  |  | 24,893 |  |  |  | 19,482 |  |  |  | 23,843 |  |  |  | 34,420 |
Weighted-average common shares outstanding – diluted |  |  | 8,089,176 |  |  |  | 8,072,408 |  |  |  | 8,123,846 |  |  |  | 8,077,830 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.54 |  |  |  | 0.51 |  |  | $ | 1.22 |  |  |  | 1.15 |
Diluted |  |  | 0.54 |  |  |  | 0.51 |  |  |  | 1.22 |  |  |  | 1.15 |

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