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

Quarterly report pursuant to Section 13 or 15(d)

Note 11 - Earnings Per Share

Note 11 - Earnings Per Share

9 Months Ended

Sep. 30, 2023

Note 11 - 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 three and nine months ended September 30, 2023, and 2022, are as follows:

	Three months ended				Nine months ended
(dollars in thousands except per share data)	September 30,				September 30,
	2023		2022		2023		2022
Basic earnings per common share:
Net income as reported	$	2,191	$	4,556	$	6,869	$	11,122
Weighted average common shares outstanding		4,251,920		4,242,568		4,281,205		4,153,733
Basic earnings per common share	$	0.52	$	1.07	$	1.60	$	2.68

Diluted earnings per common share:
Net income as reported	$	2,191	$	4,556	$	6,869	$	11,122
Weighted average common shares outstanding		4,251,920		4,242,568		4,281,205		4,153,733
Add: Dilutive effect of unvested restricted stock awards		9,041		18,028		7,662		16,804
Weighted average common and dilutive potential common shares outstanding		4,260,961		4,260,596		4,288,867		4,170,537
Diluted earnings per common share	$	0.51	$	1.07	$	1.60	$	2.67