v3.26.1
Note 19 - Earnings Per Share
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE 19 - EARNINGS PER SHARE

 

The following is a reconciliation of net income and shares outstanding to the net income and number of shares used to compute earnings per share (“EPS”) for the periods indicated:

 

  

For the Three Months Ended

 
  

June 30, 2026

  

March 31, 2026

  

June 30, 2025

 
  

Income

  

Shares

  

Income

  

Shares

  

Income

  

Shares

 
  (dollars in thousands except per share data) 

Net income

 $10,140      $11,300      $9,333     

Shares outstanding

      16,985,919       17,074,159       17,699,091 

Impact of weighting shares

      25,705       (10,402)      47,516 

Used in basic EPS

  10,140   17,011,624   11,300   17,063,757   9,333   17,746,607 

Dilutive effect of outstanding stock options & RSUs

      130,118       110,769       51,128 

Used in dilutive EPS

 $10,140   17,141,742  $11,300   17,174,526  $9,333   17,797,735 
                         

Basic earnings per common share

 $0.60      $0.66      $0.53     

Diluted earnings per common share

 $0.59      $0.66      $0.52     

 

 

  

For the Six Months Ended June 30,

 
  

2026

  

2025

 
  

Income

  

Shares

  

Income

  

Shares

 
  

(dollars in thousands except per share data)

 

Net income

 $21,440      $11,623     

Shares outstanding

      16,985,919       17,699,091 

Impact of weighting shares

      51,627       38,121 

Used in basic EPS

  21,440   17,037,546   11,623   17,737,212 

Dilutive effect of outstanding stock options & RSUs

      120,497       47,025 

Used in dilutive EPS

 $21,440   17,158,043  $11,623   17,784,237 
                 

Basic earnings per common share

 $1.26      $0.66     

Diluted earnings per common share

 $1.25      $0.65     

 

Options to purchase 12,000, 28,000, and 155,500 shares of common stock were excluded from the calculation of diluted earnings per share for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively, because their effect would have been anti-dilutive. Options to purchase 19,956 and 106,771 shares of common stock were excluded from the calculation of diluted earnings per share for the six months ended June 30, 2026 and 2025, respectively, because their effect would have been anti-dilutive. There were zero, zero, and 14,999 anti-dilutive unvested RSUs outstanding for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025, and zero and 9,066 anti-dilutive unvested RSUs outstanding for the six months ended June 30, 2026 and 2025.