Note 14 - Earnings Per Share

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 14. Earnings per Share

For FNCB, the numerator of both the basic and diluted earnings per share of common stock is net income available to common shareholders. The weighted-average number of common shares outstanding used in the denominator for basic earnings per common share is increased to determine the denominator used for diluted earnings per common share by the effect of potentially dilutive common share equivalents utilizing the treasury stock method. For the three months ended March 31, 2023 and 2022, common share equivalents consisted entirely of incremental shares of unvested restricted stock.

The following table presents the calculation of both basic and diluted earnings per share of common stock for the three months ended March 31, 2023 and 2022:

	Three Months Ended March 31,
(in thousands, except share data)	2023		2022
Net income	$	2,663	$	4,353
Basic weighted-average number of common shares outstanding		19,682,357		19,935,288
Plus: Common share equivalents		8,502		36,825
Diluted weighted-average number of common shares outstanding		19,690,859		19,972,113
Income per common share:
Basic	$	0.14	$	0.22
Diluted	$	0.14	$	0.22