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Note 5 - Earnings Per Common Share | 9 Months Ended
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Sep. 30, 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 and nine months ended September 30, 2023 and 2022 (dollars in thousands, except per share data):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2023 |  |  | September 30, 2022 |  |  | September 30, 2023 |  |  | September 30, 2022 |
(Numerator): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 3,121 |  |  | $ | 4,454 |  |  | $ | 10,475 |  |  | $ | 12,018 |
(Denominator): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding – basic |  |  | 6,256,663 |  |  |  | 6,257,040 |  |  |  | 6,266,707 |  |  |  | 6,248,847 |
Potentially dilutive common shares – restricted stock units |  |  | 14,688 |  |  |  | 7,067 |  |  |  | 9,795 |  |  |  | 6,121 |
Weighted average shares outstanding – diluted |  |  | 6,271,351 |  |  |  | 6,264,107 |  |  |  | 6,276,502 |  |  |  | 6,254,968 |
Income per common share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.50 |  |  | $ | 0.71 |  |  | $ | 1.67 |  |  | $ | 1.92 |
Diluted |  | $ | 0.50 |  |  | $ | 0.71 |  |  | $ | 1.67 |  |  | $ | 1.92 |
Restricted stock units for 603 shares of common stock were not considered in computing diluted earnings per share for the three and nine months ended September 30, 2023 because they were antidilutive. There were no antidilutive shares of common stock for the three and nine months ended September 30, 2023 and 2022.

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