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Note 8 - Basic and Diluted Earnings Per Common Share
 3 Months Ended
Mar. 31, 2025
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 months ended March 31, 2025 and 2024:

 

   

For the Three Months Ended

  
    March 31,  
   

2025

    

2024

  

Net income (numerator)

   $ 613,000     $ 576,000  
                 

Shares (denominator):

                

Basic weighted average common shares outstanding

     10,724,760       11,285,296  

Add: dilutive effect of common stock options

     111,821       104,098  
                 

Diluted weighted average common shares outstanding

     10,836,581       11,389,394  
                 

Earnings per common share:

                

Basic

   $ 0.06     $ 0.05  

Diluted

   $ 0.06     $ 0.05