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Note 8 - Basic and Diluted Earnings Per Common Share

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2025 and 2024:

		For the Three Months Ended								For the Six Months Ended
		June 30,								June 30,
		2025				2024				2025				2024
Net income (numerator)		$	1,244,000			$	1,644,000			$	1,857,000			$	2,220,000

Shares (denominator):
Basic weighted average common shares outstanding			10,501,865				11,137,066				10,407,287				11,281,739
Add: dilutive effect of common stock options			109,187				89,275				110,365				93,962

Diluted weighted average common shares outstanding			10,611,052				11,226,341				10,517,652				11,375,701

Earnings per common share:
Basic		$	0.12			$	0.15			$	0.18			$	0.20
Diluted		$	0.12			$	0.15			$	0.18			$	0.20