v3.26.1
Note 6 - Earnings per Share
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

6. EARNINGS PER SHARE

 

Basic earnings per share is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as stock options, result in the issuance of common stock which shares in the earnings of the Company. The treasury stock method has been applied to determine the dilutive effect of stock options in computing diluted earnings per share.

 

  

For the Three Months Ended

  

For the Six Months Ended

 
  

June 30,

  

June 30,

 

($ in thousands, except per share data)

 

2026

  

2025

  

2026

  

2025

 

Net Income:

                

Net income

 $9,959  $6,321  $19,722  $13,501 

Earnings Per Share:

                

Basic earnings per share

 $1.43  $1.07  $2.83  $2.28 

Diluted earnings per share

 $1.41  $1.05  $2.79  $2.25 

Weighted Average Number of Shares Outstanding:

                

Basic shares

  6,966   5,929   6,975   5,920 

Effect of dilutive stock options and restricted stock

  92   77   94   86 

Diluted shares

  7,058   6,006   7,069   6,006 

 

Stock options and RSUs having an antidilutive effect during the three and six months ended June 30, 2026 totaled 4,120 and 15,083, respectively.  There were no stock options or RSUs having an antidilutive effect during the three and six months ended June 30, 2025.