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Note 6 - Earnings Per Share
 9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

6. EARNINGS PER SHARE

 

Basic earnings per share is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, result in the issuance of common stock which shares in the earnings of the Company. The treasury stock method has been applied to determine the dilutive effect of stock options in computing diluted earnings per share.

 

  

For the Three Months Ended

  

For the Nine Months Ended

 
  

September 30,

  

September 30,

 

(In thousands, except per share data)

 

2025

  

2024

  

2025

  

2024

 

Net Income:

                

Net income

 $5,146  $7,830  $18,646  $20,870 

Earnings Per Share:

                

Basic earnings per share

 $0.74  $1.33  $2.98  $3.54 

Diluted earnings per share

 $0.73  $1.31  $2.94  $3.50 

Weighted Average Number of Shares Outstanding:

                

Basic shares

  6,947   5,896   6,266   5,893 

Effect of dilutive stock options and restricted stock

  84   72   87   63 

Diluted shares

  7,031   5,968   6,353   5,956 

 

There were no stock options having an antidilutive effect during the three-month and nine-month periods ended September 30, 2025 and 2024.