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Note 8 - Basic and Diluted Earnings Per Common Share

9 Months Ended

Sep. 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 nine months ended September 30, 2025 and 2024:

		For the Three Months Ended								For the Nine Months Ended
		September 30,								September 30,
		2025				2024				2025				2024
Net income (numerator)		$	976,000			$	862,000			$	2,833,000			$	3,082,000

Shares (denominator):
Basic weighted average common shares outstanding			10,354,289				11,075,527				10,525,957				11,103,467
Add: dilutive effect of common stock options			130,799				98,212				117,000				90,711

Diluted weighted average common shares outstanding			10,485,088				11,173,739				10,642,957				11,194,178

Earnings per common share:
Basic		$	0.09			$	0.08			$	0.27			$	0.28
Diluted		$	0.09			$	0.08			$	0.27			$	0.28