Note 8 - Basic and Diluted Earnings Per Common Share

6 Months Ended

Jun. 30, 2026

Notes to Financial Statements

Earnings Per Share [Text Block]

8.	Basic and Diluted Earnings Per Common Share

The following table provides a reconciliation of both net income and the number of shares used in the computation of “basic” earnings per common share (“EPS”), which utilizes the weighted average number of common shares outstanding without regard to dilutive shares, and “diluted” EPS, which includes all such dilutive shares, for the three and six months ended June 30, 2026 and 2025:

		For the Three Months Ended								For the Six Months Ended
		June 30,								June 30,
		2026				2025				2026				2025
Net income (numerator)		$	1,826,000			$	1,244,000			$	2,528,000			$	1,857,000

Shares (denominator):
Basic weighted average common shares outstanding			10,120,766				10,501,865				10,126,136				10,407,287
Add: dilutive effect of common stock options			226,879				109,187				213,250				110,365

Diluted weighted average common shares outstanding			10,347,645				10,611,052				10,339,386				10,517,652

Earnings per common share:
Basic		$	0.18			$	0.12			$	0.25			$	0.18

Diluted		$	0.18			$	0.12			$	0.24			$	0.18