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Earnings Per Common Share
 6 Months Ended
Jun. 30, 2025
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, 2025 and 2024. Dilutive common shares arise from the potentially dilutive effect of the Company’s stock options and unvested restricted stock that were outstanding at June 30, 2025. The assumed conversion of stock options can create a difference between basic and dilutive net income per common share. At June 30, 2025 and 2024, there were 210,017 and 266,974 options, respectively, that were not considered in computing diluted earnings per common share because they were anti-dilutive.

 

Schedule of earnings per common share                        
         
   Three months ended
June 30,		   Six months ended
June 30,		 
(dollars in thousands, except share data)  2025   2024   2025   2024 
Numerator:                    
Net income available to common shareholders  $6,581    2,999    11,847    5,521 
Denominator:                    
Weighted-average common shares outstanding – basic   8,118,895    8,125,869    8,098,737    8,118,059 
Common stock equivalents   14,894    14,953    23,478    23,312 
Weighted-average common shares outstanding – diluted   8,133,789    8,140,822    8,122,215    8,141,371 
Earnings per common share:                    
Basic  $0.81    0.37    1.46    0.68 
Diluted   0.81    0.37    1.46    0.68