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Note 5 - Earnings Per Common Share
 3 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 5. 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 three months ended March 31, 2023 and 2022 (dollars in thousands, except per share data):

 

  

Three Months Ended

 
  

March 31, 2023

  

March 31, 2022

 

(Numerator):

        

Net income

 $3,849  $3,729 

(Denominator):

        

Weighted average shares outstanding – basic

  6,273,913   6,238,973 

Potentially dilutive common shares – restricted stock units

  7,203   6,732 

Weighted average shares outstanding – diluted

  6,281,116   6,245,705 

Income per common share

        

Basic

 $0.61  $0.60 

Diluted

 $0.61  $0.60 

 

Restricted stock units for 882 shares of common stock were not considered in computing diluted earnings per share for the three months ended  March 31, 2023 because they were antidilutive.  There were restricted stock units for 193 shares of common stock considered antidilutive for the three months ended  March 31, 2023