Finward Bancorp Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 13 - Earnings Per Common Share

Note 13 - Earnings Per Common Share

12 Months Ended

Dec. 31, 2022

Note 13 – Earnings per Common 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 earnings per common share and diluted earnings per common share computations for 2022 and 2021 is presented below.

(dollars in thousands except per share data)
	2022		2021
Basic earnings per common share:
Net income as reported	$	15,080	$	14,963
Weighted average common shares outstanding		4,176,125		3,477,309
Basic earnings per common share	$	3.61	$	4.30

Diluted earnings per common share:
Net income as reported	$	15,080	$	14,963
Weighted average common shares outstanding		4,176,125		3,477,309
Add: Dilutive effect of unvested restricted stock awards		17,357		-
Weighted average common and dilutive potential common shares outstanding		4,193,482		3,477,309
Diluted earnings per common share	$	3.60	$	4.30