EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2023

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 13 — EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Corporation. At September 30, 2023 and 2022, there were no potential common shares outstanding. The following table sets forth the computation of basic and diluted earnings per share.

(In thousands, except earnings per share)	Three Months Ended
	September 30,
	2023		2022
Net income	$	1,283	$	3,504
Weighted-average common shares outstanding		6,065		5,982
Basic and diluted earnings per share	$	0.21	$	0.58

(In thousands, except earnings per share)	Nine Months Ended
	September 30,
	2023		2022
Net income	$	3,779	$	10,869
Weighted-average common shares outstanding		6,042		5,964
Basic and diluted earnings per share	$	0.62	$	1.82