v3.26.3
Note 6 - Earnings per Share
 9 Months Ended
Sep. 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 Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

($ in thousands, except per share data)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Net Income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$11,386

 

 

$5,146

 

 

$31,108

 

 

$18,646

 

Earnings Per Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$1.64

 

 

$0.74

 

 

$4.46

 

 

$2.98

 

Diluted earnings per share

 

$1.61

 

 

$0.73

 

 

$4.40

 

 

$2.94

 

Weighted Average Number of Shares Outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic shares

 

 

6,954

 

 

 

6,947

 

 

 

6,968

 

 

 

6,266

 

Effect of dilutive stock options and restricted stock

 

 

114

 

 

 

84

 

 

 

104

 

 

 

87

 

Diluted shares

 

 

7,068

 

 

 

7,031

 

 

 

7,072

 

 

 

6,353

 

 

Stock options and RSUs having an antidilutive effect during the three and nine months ended  September 30, 2026 totaled 3,997 and 9,902, respectively.  There were no stock options or RSUs having an antidilutive effect during the three and nine months ended  September 30, 2025.