Annual report [Section 13 and 15(d), not S-K Item 405]

Note 12 - Earnings Per Common Share

v3.25.1
Note 12 - Earnings Per Common Share
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 12 – 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 2024 and 2023 is presented below.

 

 

   

For the year ended,

  

(dollars in thousands except per share data)

  

December 31,

  
   

2024

    

2023

  

Basic earnings per common share:

                

Net income as reported

   $ 12,130     $ 8,380  

Weighted average common shares outstanding

     4,259,570       4,273,824  

Basic earnings per common share

   $ 2.85     $ 1.96  
                 

Diluted earnings per common share:

                

Net income as reported

   $ 12,130     $ 8,380  

Weighted average common shares outstanding

     4,259,570       4,273,824  

Add: Dilutive effect of unvested restricted stock awards

     15,063       8,458  

Weighted average common and dilutive potential common shares outstanding

     4,274,633       4,282,282  

Diluted earnings per common share

   $ 2.84     $ 1.96