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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

 

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 179,000 and 183,000 antidilutive shares of common stock for the three months ended September 30, 2025 and 2024, respectively. There were 216,000 and 206,000 antidilutive shares of common stock for the nine months ended  September 30, 2025 and 2024, respectively.

 

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

 

  

Three months ended September 30,

  

Nine months ended September 30,

 
  

2025

  

2024

  

2025

  

2024

 
  

(In Thousands, except per share amounts)

 
                 

Net income

 $7,926  $4,728  $18,689  $13,478 
                 

Weighted average shares outstanding

  17,639   18,350   17,962   18,631 

Effect of dilutive potential common shares

  32   95   23   46 

Diluted weighted average shares outstanding

 $17,671  $18,445  $17,985  $18,677 
                 

Basic earnings per share

 $0.45  $0.26  $1.04  $0.72 

Diluted earnings per share

 $0.45  $0.26  $1.04  $0.72