XML 29 R18.htm IDEA: XBRL DOCUMENT v3.25.3
Note 10 - Earnings Per Share
 9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE 10 – EARNINGS PER SHARE

 

The Company computes earnings per share using the two-class method, which is an earnings allocation method for computing earnings per share that treats a participating security as having rights to earnings that would otherwise have been available to common shareholders. Basic earnings per share are computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Unvested share-based awards containing non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per share pursuant to the two-class method. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company.

 

The following table presents a reconciliation of the components used to compute basic and diluted earnings per share at or for the dates indicated:

 

   

At or For the Three Months Ended September 30,

  

At or For the Nine Months Ended September 30,

Numerator:

  

2025

  

2024

  

2025

  

2024

Net income

  

$

9,177

  

$

10,286

  

$

24,926

  

$

27,642

Dividends and undistributed earnings allocated to participating securities

    

(176)

    

(165)

    

(443)

    

(450)

Net income available to common shareholders

  

$

9,001

  

$

10,121

  

$

24,483

  

$

27,192

Denominator (shown as actual):

                        

Basic weighted average common shares outstanding

    

7,488,139

    

7,676,102

    

7,587,202

    

7,689,277

Dilutive shares

    

135,104

    

178,287

    

110,759

    

188,569

Diluted weighted average common shares outstanding

    

7,623,243

    

7,854,389

    

7,697,961

    

7,877,846
Basic earnings per share   $ 1.20   $ 1.32   $ 3.23   $ 3.54
Diluted earnings per share   $ 1.18   $ 1.29   $ 3.18   $ 3.45

Potentially dilutive weighted average share options that were not included in the computation of diluted earnings per share because to do so would be anti-dilutive.

    

19,771

    

—

    

12,382

    

14,151