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Earnings Per Common Share
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Common Share

Note 2 - Earnings Per Common Share

Basic earnings per share is calculated by dividing net income by the weighted-average shares of common stock outstanding during the period, excluding non-vested restricted shares. Dilutive earnings per share is calculated by dividing net income by the weighted-average shares of common stock outstanding during the period plus the maximum dilutive effect on common stock issuable upon exercise of stock options or vesting of restricted stock units. Stock options and unvested restricted stock units are considered common stock equivalents and are only included in the calculation of dilutive earnings per common share if the effect is dilutive.

The following reconciles the numerator and denominator of the basic and diluted earnings per common share computation:

 

   Three months 
   Ended March 31, 
(In thousands except average market price and per share data)  2025   2024 
Numerator (Net income available to common shareholders)  $3,997   $2,597 
Denominator          
Weighted average common shares outstanding for:          
Basic shares   7,648    7,601 
Dilutive securities:          
Deferred compensation shares   120    79 
Diluted common shares outstanding   7,768    7,680 
Earnings per common share:          
Basic  $0.52   $0.34 
Diluted   0.51    0.34 
The average market price used in calculating assumed number of shares  $24.35   $17.78