Note 16 - Earnings Per Share

12 Months Ended

Dec. 31, 2024

Notes

Note 16 - Earnings Per Share

Note 16 - Earnings Per Share

Basic earnings per share is calculated by dividing net income attributable to the common stockholders of the company by the weighted average number of common shares outstanding during the period.  Diluted earnings per share is calculated by assuming the exercise of stock options at the closing price of stock at the end of 2024.

The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:

	2024	2023	2022
Numerator (in thousands)
Net income	13,874	16,635	16,473
Denominator
Weighted average shares, basic	3,503	3,629	3,637
Dilutive effect of stock options	-	8	6
Diluted shares	3,503	3,637	3,643
Earnings per share, basic	3.96	4.58	4.53
Earnings per share, diluted	3.96	4.57	4.52