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Earnings Per Common Share
 9 Months Ended
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