Note 18 - Earnings Per Share

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 18 Earnings Per Share

The calculation of basic and diluted earnings per share using the two-class method for the three and nine months ended September 30, 2024 and 2023 are presented below:

	Three months ended				Nine months ended
	September 30,				September 30,
(dollars and shares in thousands, except per share data)	2024		2023		2024		2023
Net income	$	5,207	$	9,161	$	17,846	$	26,451
Dividends and undistributed earnings allocated to participating securities		24		67		102		186
Net income available to common stockholders	$	5,183	$	9,094	$	17,744	$	26,265
Weighted-average common shares outstanding for basic earnings per share		19,788		19,872		19,768		19,977
Dilutive effect of stock-based awards		287		223		269		216
Weighted-average common shares outstanding for diluted earnings per share		20,075		20,095		20,037		20,193
Earnings per common share:
Basic earnings per common share	$	0.26	$	0.46	$	0.90	$	1.31
Diluted earnings per common share	$	0.26	$	0.45	$	0.89	$	1.30

There were no antidilutive shares for the three and nine months ended September 30, 2024 and 2023.