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

Annual report pursuant to Section 13 and 15(d)

Note 13 - Earnings Per Share

Note 13 - Earnings Per Share

12 Months Ended

Dec. 31, 2023

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 2023 and 2022 is presented below.

(dollars in thousands except per share data)
	2023		2022
Basic earnings per common share:
Net income as reported	$	8,380	$	15,080
Weighted average common shares outstanding		4,273,824		4,176,125
Basic earnings per common share	$	1.96	$	3.61

Diluted earnings per common share:
Net income as reported	$	8,380	$	15,080
Weighted average common shares outstanding		4,273,824		4,176,125
Add: Dilutive effect of unvested restricted stock awards		8,458		17,357
Weighted average common and dilutive potential common shares outstanding		4,282,282		4,193,482
Diluted earnings per common share	$	1.96	$	3.60