Finward Bancorp Earnings Per Share Disclosure
Note 12 – Earnings per Common Share
Earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding. A reconciliation of the numerators and denominators of the basic earnings per common share and diluted earnings per common share computations for 2024 and 2023 is presented below.
| For the year ended, | ||||||||
| (dollars in thousands except per share data) | December 31, | |||||||
| 2024 | 2023 | |||||||
| Basic earnings per common share: | ||||||||
| Net income as reported | $ | 12,130 | $ | 8,380 | ||||
| Weighted average common shares outstanding | 4,259,570 | 4,273,824 | ||||||
| Basic earnings per common share | $ | 2.85 | $ | 1.96 | ||||
| Diluted earnings per common share: | ||||||||
| Net income as reported | $ | 12,130 | $ | 8,380 | ||||
| Weighted average common shares outstanding | 4,259,570 | 4,273,824 | ||||||
| Add: Dilutive effect of unvested restricted stock awards | 15,063 | 8,458 | ||||||
| Weighted average common and dilutive potential common shares outstanding | 4,274,633 | 4,282,282 | ||||||
| Diluted earnings per common share | $ | 2.84 | $ | 1.96 | ||||
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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.