Earnings per Share

12 Months Ended

Dec. 31, 2024

7. EARNINGS PER SHARE:

Basic earnings per common share (“Basic EPS”) is computed by dividing the net income attributable to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per common share (“Diluted EPS”) is

computed by dividing net income attributable to common stockholders by the weighted-average number of common shares and dilutive common share equivalents then outstanding. Diluted EPS reflects the potential dilution that could occur if option contracts were exercised and converted into common stock. There were 184,889 common share equivalents related to stock options in both the twelve months ended December 31, 2024 and 2023. These common share equivalents related to stock options are presented in Diluted EPS.

The following table sets forth the computation of basic and diluted earnings per share information for the years ended December 31, 2024 and 2023 (in thousands, except share and per share data):


	2024		2023
Numerator:
Net income attributable to common stockholders	$	7,266	$	9,485
Denominator:
Weighted average common shares outstanding – basic		13,336,879		13,331,273
Weighted average common shares outstanding – diluted		13,521,767		13,516,162
Basic and Diluted Per Share Information:
Net income per share – basic	$	0.54	$	0.71
Net income per share – diluted	$	0.54	$	0.70