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Note 19 - Earnings Per Share | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Earnings Per Share [Text Block] | NOTE 19 - EARNINGS PER SHARE The following is a reconciliation of net income and shares outstanding to the net income and number of shares used to compute earnings per share (“EPS”):
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | Income |  |  | Shares |  |  | Income |  |  | Shares |  |  | Income |  |  | Shares |
|  | (dollars in thousands, except shares and per share data) |
Net income as reported |  | $ | 26,665 |  |  |  |  |  |  | $ | 42,465 |  |  |  |  |  |  | $ | 64,327 |  |  |  |  |
Less: Earnings allocated to participating securities |  |  | — |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  | (34 | ) |  |  |  |
Shares outstanding |  |  |  |  |  |  | 17,720,416 |  |  |  |  |  |  |  | 18,609,179 |  |  |  |  |  |  |  | 18,965,776 |
Impact of weighting shares |  |  |  |  |  |  | 401,348 |  |  |  |  |  |  |  | 356,167 |  |  |  |  |  |  |  | 133,733 |
Used in basic EPS |  |  | 26,665 |  |  |  | 18,121,764 |  |  |  | 42,465 |  |  |  | 18,965,346 |  |  |  | 64,293 |  |  |  | 19,099,509 |
Dilutive effect of outstanding |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  |  |  |  |  | 20,883 |  |  |  |  |  |  |  | 15,322 |  |  |  |  |  |  |  | 211,477 |
Restricted Stock Unit |  |  |  |  |  |  | 35,788 |  |  |  |  |  |  |  | 4,565 |  |  |  |  |  |  |  | 21,653 |
Performance Stock Unit |  |  |  |  |  |  | 4,884 |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  | — |
Used in dilutive EPS |  | $ | 26,665 |  |  |  | 18,183,319 |  |  | $ | 42,465 |  |  |  | 18,985,233 |  |  | $ | 64,293 |  |  |  | 19,332,639 |
Basic earnings per common share |  | $ | 1.47 |  |  |  |  |  |  | $ | 2.24 |  |  |  |  |  |  | $ | 3.37 |  |  |  |  |
Diluted earnings per common share |  | $ | 1.47 |  |  |  |  |  |  | $ | 2.24 |  |  |  |  |  |  | $ | 3.33 |  |  |  |  |
Options to purchase 18,000, 332,500, and zero shares of common stock were excluded from the calculation of diluted earnings per share for December 31, 2024, 2023, and 2022, because their effect would have been anti-dilutive. There were zero, 6,012, and zero antidilutive unvested RSUs outstanding for December 31, 2024, 2023, and 2022.

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