Note 2 - Earnings Per Common Share

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

2. Earnings per Common Share

Basic earnings per common share (EPS) excludes dilution and is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS includes the dilutive effect of additional potential common shares for assumed issuance of restricted stock.

The factors used in the Corporation’s earnings per common share computation follow:

(Dollar amounts in thousands, except for per share amounts)	For the three months ended March 31,
	2022		2021
Net income	$	2,436	$	2,174
Less: Preferred stock dividends		—		—
Net income available to common stockholders	$	2,436	$	2,174
Average common shares outstanding		2,735,212		2,721,212
Add: Dilutive effects of restricted stock awards		22,142		18,977
Average shares and dilutive potential common shares		2,757,354		2,740,189
Basic earnings per common share	$	0.89	$	0.80
Diluted earnings per common share	$	0.88	$	0.79