v3.26.1
Note 2 - Earnings Per Common Share
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

(2) Earnings per Common Share

 

Basic and diluted earnings per common share were computed as follows:  

 

   

Three Months

    

Six Months

  
   

Ended June 30,

    

Ended June 30,

  

(In thousands, except per share amounts)

  

2026

    

2025

    

2026

    

2025

  

Numerator:

                                

Net income

   $ 5,339     $ 7,186     $ 6,721     $ 11,521  

Denominator:

                                

Basic earnings per common share - weighted-average shares

     81,629       81,510       81,604       81,502  

Effect of dilutive stock options

     5       7       2       10  

Diluted earnings per common share - weighted-average shares and assumed conversions

     81,634       81,517       81,606       81,512  
                                 

Basic earnings per common share

   $ 0.07     $ 0.09     $ 0.08     $ 0.14  

Diluted earnings per common share

   $ 0.07     $ 0.09     $ 0.08     $ 0.14  

 

Options totaling 489,600 and 563,300 equivalent shares for the three-month and six-month periods ended June 30, 2026, respectively, and 638,071 and 615,898 equivalent shares for the three-month and six-month periods ended June 30, 2025, respectively, were outstanding but were not included in the calculation of diluted earnings per share because including the options in the denominator would be antidilutive, or decrease the number of weighted-average shares, due to their exercise prices exceeding the average market price of the common shares, or because inclusion of average unrecognized compensation expense in the calculation would cause the options to be antidilutive.

 

Unvested performance awards totaling 168,978 equivalent shares for each of the three-month and six-month periods ended June 30, 2026, and 181,111 equivalent shares for each of the three-month and six-month periods ended June 30, 2025, were considered outstanding but were not included in the calculation of diluted earnings per share because inclusion of average unrecognized compensation expense in the calculation would cause the performance awards to be antidilutive.