v3.25.2
Earnings per Share
6 Months Ended
Jun. 30, 2025
Earnings per Share [Abstract]  
Earnings per Share
Note 3 – Earnings per Share


The following table sets forth the computation of earnings per share.

   
Three months ended
June 30,
   
Six months ended
June 30,
 
   
2025
   
2024
   
2025
   
2024
 
Net income applicable to common stock
 
$
8,463,000
   
$
5,275,000
 
 
$
16,084,000
   
$
12,299,000
 
                                 
Basic earnings per share computation
                               
Weighted average common shares outstanding
   
4,797,716
     
4,796,000
     
4,797,642
     
4,795,596
 
Earnings per share - basic
 
$
1.76
   

1.10
 
$
3.35
   
$
2.56
 
                                 
Diluted earnings per share computation
                               
Weighted average common shares outstanding for basic earnings per share
   
4,797,716
     
4,796,000
     
4,797,642
     
4,795,596
 
Add: Dilutive effects of restricted stock
   
2,668
     
4,770
     
3,220
     
5,395
 
Weighted average common shares outstanding for dilutive earnings per share
   
4,800,384
     
4,800,770
     
4,800,862
     
4,800,991
 
Earnings per share - diluted
 
$
1.76
   
$
1.10
 
$
3.35
   
$
2.56
 


For the three months ended June 30, 2025 and 2024, there were 2,668 and 4,230 shares, respectively, related to the restricted stock plan that were excluded from the diluted earnings per share calculations since they were anti-dilutive. These anti-dilutive shares had per share prices ranging from $61.98-$83.38 for the three month period ended June 30, 2025 and per share prices ranging from $60.16-$83.38 for the three month period ended June 30, 2024. For the six months ended June 30, 2025 and 2024, 3,219 and 4,230 shares, respectively, related to the restricted stock plan were excluded from the diluted earnings per share calculations since they were anti-dilutive. These anti-dilutive shares had prices ranging from $61.98-$83.38 for the six month period ended June 30, 2025 and prices ranging from $60.16-$83.38 for the six month period ended June 30, 2024.