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Note 13 - Earnings Per Share
 3 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Earnings Per Share [Text Block]

13. EARNINGS PER SHARE

 

Basic earnings per share (“EPS”) is computed by dividing net income applicable to common shareholders by the weighted average number of common shares outstanding during each period. The diluted earnings per share computation includes common share equivalents, when dilutive.

 

A reconciliation of the shares used in the basic and diluted income per common share computation for the three months ended March 31, 2023 and 2022 is as follows:

 

  

Three Months Ended

 
  

March 31,

 

(shares in thousands)

 

2023

  

2022

 
         

Basic - weighted average shares outstanding

  7,346   7,306 

Dilutive stock options(1)

  -   104 

Diluted - weighted average shares outstanding(2)

  7,346   7,410 

Anti-dilutive securities

  265   107 

 

(1) Due to a loss for the three months ended March 31, 2023, zero dilutive stock options are included for the period because the effect would be antidilutive.

 

(2) Due to a loss for the three months ended March 31, 2023, zero dilutive stock options are included for the period because the effect would be antidilutive.