The following sets forth the computation of basic and diluted earnings per share:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2025		2024		2025		2024
Numerator for basic and diluted earnings per share - net income	$	3,883	$	2,465	$	6,461	$	5,059
Denominator for basic earnings per share - weighted average shares outstanding		3,710,878		3,665,695		3,705,396		3,660,435
Effect of dilutive securities - employee stock options		13,930		—		13,117		—
Denominator for diluted earnings per share - adjusted weighted average shares outstanding		3,724,808		3,665,695		3,718,513		3,660,435
Earnings per share - basic	$	1.05	$	0.67	$	1.74	$	1.38
Earnings per share - diluted		1.04		0.67		1.74		1.38

There were 92,075 and 137,275 stock options that were anti-dilutive for the three-month periods ended June 30, 2025 and 2024, respectively. There were 92,075 and 137,275 stock options that were anti-dilutive for the six-month periods ended June 30, 2025 and 2024, respectively. These stock options were not included in the above calculation.

QNB’s current stock repurchase plan was originally approved by the Board of Directors on January 21, 2008, increased in amount on February 9, 2009 to 100,000 shares, and subsequently increased on April 27, 2021 up to 200,000 shares of common stock in the open market or privately negotiated transactions. The repurchase authorization has no termination date. There were no shares repurchased during the six months ended June 30, 2025 and 2024. As of June 30, 2025, 102,000 shares were repurchased under this authorization at an average price of $24.93 and a total cost of approximately $2,543,000.