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Note 16 - Earnings Per Share | 12 Months Ended
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Dec. 31, 2022
Notes |
Note 16 - Earnings Per Share | Note 16 – Earnings Per Share Basic earnings per share is calculated by dividing net income attributable to the common stockholders of the company by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by assuming the exercise of stock options at the closing price of stock at the end of 2022. The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:
| 2022 |  | 2021 |  | 2020
Numerator (in thousands) |  |  |  |  |
Net income | 16,473 |  | 14,788 |  | 10,798
Denominator |  |  |  |  |
Weighted average shares, basic | 3,637 |  | 3,647 |  | 3,658
Dilutive effect of stock options | 6 |  | 13 |  | 14
Diluted shares | 3,643 |  | 3,660 |  | 3,672
Earnings per share, basic | 4.53 |  | 4.05 |  | 2.95
Earnings per share, diluted | 4.52 |  | 4.04 |  | 2.94

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