Esquire Financial Holdings, Inc. Earnings Per Share Disclosure
NOTE 10 — Earnings per Share
The factors used in the earnings per share computation follow:
Years Ended December 31, | ||||||||
2024 |
| 2023 |
| 2022 | ||||
Basic: | ||||||||
Net income | $ | 43,658 | $ | 41,011 | $ | 28,518 | ||
Weighted average shares outstanding | 7,817,626 | 7,716,367 | 7,638,423 | |||||
Basic earnings per share | $ | 5.58 | $ | 5.31 | $ | 3.73 | ||
Diluted: | ||||||||
Net income | $ | 43,658 | $ | 41,011 | $ | 28,518 | ||
Weighted average shares outstanding for basic earnings per share | 7,817,626 | 7,716,367 | 7,638,423 | |||||
Add: Dilutive effects of share based awards | 669,415 | 629,219 | 575,271 | |||||
Weighted average shares and dilutive potential shares | 8,487,041 | 8,345,586 | 8,213,694 | |||||
Diluted earnings per share | $ | 5.14 | $ | 4.91 | $ | 3.47 | ||
Share based awards totaling 74,050, 96,450 and 201,920 shares of stock were not considered in computing diluted earnings per share for 2024, 2023 and 2022, respectively, because they were anti-dilutive.
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About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.