Outstanding Shares and Earnings Per Share

12 Months Ended

Dec. 31, 2024

Outstanding Shares and Earnings Per Share [Abstract]

Outstanding Shares and Earnings Per Share

(13) Outstanding Shares and Earnings Per Share

All income per share amounts have been adjusted to give retroactive effect to stock dividends and stock splits, including the 5% stock dividend declared on January 23, 2025, payable on March 25, 2025, to shareholders of record as of February 28, 2025.

Earnings Per Share

Basic and diluted earnings per share for the years ended December 31, were computed as follows:

	2024		2023
Basic earnings per share:
Net income	$	20,034	$	21,554
Weighted average common shares outstanding		15,896,475		15,932,056
Basic earnings per share	$	1.26	$	1.35
Diluted earnings per share:
Net income	$	20,034	$	21,554
Weighted average common shares outstanding		15,896,475		15,932,056
Effect of dilutive shares		212,565		150,815
Adjusted weighted average common shares outstanding		16,109,040		16,082,871
Diluted earnings per share	$	1.24	$	1.34

Options not included in the computation of diluted earnings per share because they would have had an anti-dilutive effect amounted to 247,729 shares and 494,769 shares for the years ended December 31, 2024 and 2023, respectively.  Restricted stock not included in the computation of diluted earnings per share because they would have had an anti-dilutive effect amounted to 2,037 shares and 37,372 shares for the years ended December 31, 2024 and 2023, respectively.