Note 12 - Earnings Per Common Share

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

(

1

2

)

Earnings

per

Common

S

hare

The following table reconciles the weighted average shares outstanding and the earnings available to common shareholders used for basic and diluted earnings per share:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands, except per share data)	2020		2019		2020		2019
Weighted average number of common shares outstanding used in basic earnings per share calculation		4,628		4,614		4,624		4,606
Net dilutive effect of:
Restricted stock awards and options		23		28		26		29
Weighted average number of shares outstanding adjusted for effect of dilutive securities		4,651		4,642		4,650		4,635
Income available to common shareholders	$	3,101		2,076		7,177		6,557
Basic earnings per common share	$	0.67		0.45		1.55		1.42
Diluted earnings per common share	$	0.67		0.45		1.54		1.41