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Note 9 - Basic and Diluted Earnings Per Common Share - Earnings Per Common Share - Summary of Basic and Diluted Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Net income for the period $ 2,834 $ 2,799 [1]
Basic weighted average number of common shares outstanding (in shares) 10,612,230 10,634,842
Effect of outstanding stock options (in shares) 101,448 201,055
Diluted weighted average number of shares outstanding (in shares) 10,713,678 10,835,897
Basic earnings per common share (in dollars per share) $ 0.27 $ 0.26
Diluted earnings per common share (in dollars per share) $ 0.26 $ 0.26
[1] The Company has initially applied ASC 2014-09 (Topic 606) on January 1, 2018 and ASC 2016-02 (Topic 842) on January 1, 2019. Both accounting standards were adopted using the modified retrospective method, under this method the comparative periods were not restated.