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Note 8 - Basic and Diluted Earnings Per Common Share
 9 Months Ended
Sep. 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 nine months ended September 30, 2024 and 2023:

 

 

   

For the Three Months Ended

    

For the Nine Months Ended

  
    September 30,    

September 30,

  
   

2024

    

2023

    

2024

    

2023

  

Net income (numerator)

   $ 862,000     $ 1,430,000     $ 3,082,000     $ 3,128,000  
                                 

Shares (denominator):

                                

Basic weighted average common shares outstanding

     11,075,527       11,781,071       11,103,467       11,974,336  

Add: dilutive effect of common stock options

     98,212       -       90,711       -  
                                 

Diluted weighted average common shares outstanding

     11,173,739       11,781,071       11,194,178       11,974,336  
                                 

Earnings per common share:

                                

Basic

   $ 0.08     $ 0.12     $ 0.28     $ 0.26  
                                 

Diluted

   $ 0.08     $ 0.12     $ 0.28     $ 0.26