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Note 14 - Earnings Per Common Share
 12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 14. Earnings per Common Share

 

Basic earnings per common share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance.

 

The following table presents the computation of basic and diluted earnings per share for the years ended December 31, 2022 and 2021 (dollars in thousands, except per share data):

 

 

  

2022

  

2021

 

(Numerator):

        

Net income

 $16,797  $10,359 

(Denominator):

        

Weighted average shares outstanding – basic

  6,252,369   5,550,589 

Potentially dilutive common shares – restricted stock units

  6,988   8,492 

Weighted average shares outstanding – diluted

  6,259,357   5,559,081 

Income per common share

        

Basic

 $2.69  $1.87 

Diluted

 $2.68  $1.86