Note 9 - Earnings Per Share

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

9. Earnings per Share

Earnings per share is determined by dividing net income by the weighted average number of shares of common stock outstanding, giving retroactive effect to any stock dividends. The following table shows the weighted average number of shares used in computing earnings per share and the effect of the weighted average number of shares of dilutive potential common stock. The weighted average number of dilutive shares included 164 and 154 shares subject to restrictive stock units (“RSUs”) for the three and nine month periods ended September 30, 2025, respectively, and 0 and 250 shares subject to RSUs , respectively, for the same periods of 2024.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2025		2024		2025		2024
Net income	$	1,705,529	$	1,123,127	$	4,068,715	$	3,421,623
Weighted average shares outstanding - basic		3,195,097		3,145,061		3,181,334		3,127,728
Effect of dilutive restricted stock units		-		-		241		167
Weighted average shares outstanding - diluted		3,195,097		3,145,061		3,181,575		3,127,895
Earnings per share - basic	$	0.53	$	0.36	$	1.28	$	1.09
Earnings per share - diluted	$	0.53	$	0.36	$	1.28	$	1.09