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Note 2 - Earnings Per Common Share
6 Months Ended
Jun. 30, 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 June 30, For the six months ended June 30,
  

2022

 

2021

 

2022

 

2021

Net income

 $2,237  $1,934  $4,673  $4,108 

Less: Preferred stock dividends

  102   95   102   95 

Net income available to common stockholders

 $2,135  $1,839  $4,571  $4,013 

Average common shares outstanding

  2,735,212   2,721,212   2,735,212   2,721,212 

Add: Dilutive effects of restricted stock awards

  30,701   23,132   27,124   21,057 

Average shares and dilutive potential common shares

  2,765,913   2,744,344   2,762,336   2,742,269 

Basic earnings per common share

 $0.78  $0.68  $1.67  $1.47 

Diluted earnings per common share

 $0.77  $0.67  $1.65  $1.46