Note 6 - Earnings Per Share

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

6. EARNINGS PER SHARE

Basic earnings per share is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, result in the issuance of common stock which shares in the earnings of the Company. The treasury stock method has been applied to determine the dilutive effect of stock options in computing diluted earnings per share.

	For the Three Months Ended
	March 31,
(In thousands, except per share data)	2024		2023
Net Income:
Net income	$	6,254	$	7,626
Earnings Per Share:
Basic earnings per share	$	1.06	$	1.30
Diluted earnings per share	$	1.05	$	1.28
Weighted Average Number of Shares Outstanding:
Basic shares		5,887		5,855
Diluted shares		5,946		5,940

There were no stock options having an antidilutive effect during the three-month periods ended March 31, 2024, and 2023.