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Note 8 - Basic and Diluted Earnings Per Common Share
 6 Months Ended
Jun. 30, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

8.

Basic and Diluted Earnings Per Common Share

 

The following table provides a reconciliation of both net income and the number of shares used in the computation of “basic” earnings per common share (“EPS”), which utilizes the weighted average number of common shares outstanding without regard to dilutive shares, and “diluted” EPS, which includes all such dilutive shares, for the three and six months ended June 30, 2024 and 2023:

 

   

For the Three Months Ended

    

For the Six Months Ended

  
    June 30,    

June 30,

  
   

2024

    

2023

    

2024

    

2023

  

Net income (numerator)

   $ 1,644,000     $ 1,146,000     $ 2,220,000     $ 1,698,000  
                                 

Shares (denominator):

                                

Basic weighted average common shares outstanding

     11,137,066       11,997,443       11,281,739       12,072,571  

Add: dilutive effect of common stock options

     85,090       16,402       93,962       30,848  
                                 

Diluted weighted average common shares outstanding

     11,226,341       12,013,845       11,375,701       12,103,419  
                                 

Earnings per common share:

                                

Basic

   $ 0.15     $ 0.10     $ 0.20     $ 0.14  

Diluted

   $ 0.15     $ 0.10     $ 0.20     $ 0.14