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Note 19 - Earnings Per Share ("EPS") | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Earnings Per Share [Text Block] | NOTE 19 - EARNINGS PER SHARE (“EPS”) The following is a reconciliation of net income and shares outstanding to the income and number of shares used to compute EPS:
|  | 2023 |  |  | 2022 |  |  | 2021 |
(dollars in thousands except shares and per share data) |  |  | Income |  |  |  | Shares |  |  |  | Income |  |  |  | Shares |  |  |  | Income |  |  |  | Shares |
Net income as reported |  | $ | 42,465 |  |  |  |  |  |  | $ | 64,327 |  |  |  |  |  |  | $ | 56,906 |  |  |  |  |
Less: Earnings allocated to participating securities |  |  | — |  |  |  |  |  |  |  | (34 | ) |  |  |  |  |  |  | (192 | ) |  |  |  |
Shares outstanding |  |  |  |  |  |  | 18,609,179 |  |  |  |  |  |  |  | 18,965,776 |  |  |  |  |  |  |  | 19,455,544 |
Impact of weighting shares |  |  |  |  |  |  | 356,167 |  |  |  |  |  |  |  | 133,733 |  |  |  |  |  |  |  | (31,995 | )
Used in basic EPS |  |  | 42,465 |  |  |  | 18,965,346 |  |  |  | 64,293 |  |  |  | 19,099,509 |  |  |  | 56,714 |  |  |  | 19,423,549 |
Dilutive effect of outstanding |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  |  |  |  |  | 15,322 |  |  |  |  |  |  |  | 211,477 |  |  |  |  |  |  |  | 410,757 |
Restricted Stock Unit |  |  |  |  |  |  | 4,565 |  |  |  |  |  |  |  | 21,653 |  |  |  |  |  |  |  | — |
Used in dilutive EPS |  | $ | 42,465 |  |  |  | 18,985,233 |  |  | $ | 64,293 |  |  |  | 19,332,639 |  |  | $ | 56,714 |  |  |  | 19,834,306 |
Basic earnings per common share |  | $ | 2.24 |  |  |  |  |  |  | $ | 3.37 |  |  |  |  |  |  | $ | 2.92 |  |  |  |  |
Diluted earnings per common share |  |  | 2.24 |  |  |  |  |  |  |  | 3.33 |  |  |  |  |  |  |  | 2.86 |  |  |  |  |
Stock options for 332,500 shares of common stock and restricted stock units for 6,012 shares were not considered in computing diluted earnings per common share for December 31, 2023 because they were anti-dilutive. Stock options for zero share of common stock and restricted stock units for zero share were not considered in computing diluted earnings per common share for December 31, 2022 and 2021, respectively, because they were anti-dilutive.

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