Finward Bancorp Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Earnings Per Share

Note 8 - Earnings Per Share

9 Months Ended

Sep. 30, 2022

Note 8 - Earnings per Share

Earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding. A reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations for the quarter and nine months ended September 30, 2022, and 2021, are as follows:

(dollars in thousands except per share data)	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Basic earnings per common share:
Net income as reported	$	4,556	$	3,538	$	11,122	$	11,652
Weighted average common shares outstanding		4,242,568		3,479,139		4,153,733		3,476,406
Basic earnings per common share	$	1.07	$	1.02	$	2.68	$	3.35

Diluted earnings per common share:
Net income as reported	$	4,556	$	3,538	$	11,122	$	11,652
Weighted average common shares outstanding		4,242,568		3,479,139		4,153,733		3,476,406
Add: Dilutive effect of unvested restricted stock awards		18,028		-		16,804		-
Weighted average common and dilutive potential common shares outstanding		4,260,596		3,479,139		4,170,537		3,476,406
Diluted earnings per common share	$	1.07	$	1.02	$	2.67	$	3.35