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Note 10 - Earnings Per Share
 6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 10 – Earnings Per Share

 

Earnings per share are computed using the two-class method. Basic earnings per share is computed by dividing net income allocated to common shares by the weighted average number of common shares outstanding during the applicable period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding adjusted for the dilutive effect of all potential common shares.

 

There were 217,000 and 539,000 antidilutive shares of common stock for the three months ended June 30, 2025 and 2024, respectively. There were 216,000 and 539,000 antidilutive shares of common stock for the six months ended  June 30, 2025 and 2024, respectively.

 

Presented below are the calculations for basic and diluted earnings per share:

 

  

Three months ended June 30,

  

Six months ended June 30,

 
  

2025

  

2024

  

2025

  

2024

 
  

(In Thousands, except per share amounts)

 
                 

Net income

 $7,727  $5,712  $10,763  $8,750 
                 

Weighted average shares outstanding

  17,989   18,524   18,127   18,772 

Effect of dilutive potential common shares

  15   44   16   30 

Diluted weighted average shares outstanding

 $18,004  $18,568  $18,143  $18,802 
                 

Basic earnings per share

 $0.43  $0.31  $0.59  $0.47 

Diluted earnings per share

 $0.43  $0.31  $0.59  $0.47