v3.26.1
Note 22 - Earnings Per Common Share
12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE 22. EARNINGS PER COMMON SHARE

 

The following is a summary of the information used in the computation of basic and diluted earnings per common share for the years ended December 31, 2025, 2024 and 2023 (in thousands, except share and per share data).

 

  

December 31,

 
  

2025

  

2024

  

2023

 

Net income

 $22,904  $20,252  $16,678 

Less: preferred stock dividends declared

  1,056       

Net income available to common shareholders

  21,848   20,252   16,678 

Less: income allocated to participating securities

        1 

Net income allocated to common shareholders

 $21,848  $20,252  $16,677 
             

Weighted average basic shares outstanding

  9,829,130   9,813,694   9,839,258 

Dilutive effect of stock-based compensation

  167,693   122,386   2,583 

Dilutive effect of Series A Preferred Stock

  780,162       

Weighted average diluted shares outstanding

  10,776,985   9,936,080   9,841,841 
             

Basic earnings per common share

 $2.22  $2.06  $1.69 

Diluted earnings per common share

 $2.13  $2.04  $1.69 

 

The weighted average number of shares that have an antidilutive effect in the calculation of diluted earnings per common share and have been excluded from the computations above are shown below.

 

  

December 31,

 
  

2025

  

2024

  

2023

 

Stock options

  822   2,238    

RSUs

  950   4,741   71,711