Note 14 - Earnings Per Share

3 Months Ended

Mar. 31, 2024

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, 2024 and 2023, 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, 2024 and 2023:

	Three Months Ended March 31,
(in thousands, except share data)	2024		2023
Net income	$	3,532	$	2,663
Basic weighted-average number of common shares outstanding		19,793,235		19,682,357
Plus: Common share equivalents		1,978		8,502
Diluted weighted-average number of common shares outstanding		19,795,213		19,690,859
Income per common share:
Basic	$	0.18	$	0.14
Diluted	$	0.18	$	0.14