Earnings per Share

12 Months Ended

Dec. 31, 2022

Earnings per Share

Earnings per Share

13. Earnings per Share

Basic and diluted earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflects the potential dilution that could occur if outstanding stock options at the presented dates are exercised and shares of restricted stock have vested. For the years ended December 31, 2022 and 2021, 27,813 and 121,993 potentially dilutive securities, respectively, are excluded from the calculation of diluted earnings per share because their inclusions would be anti-dilutive.

The following table sets forth the computation of basic and diluted earnings per share:

	Year Ended December 31,
	2022		2021
Numerator:
Net income	$	36,540	$	15,941
Denominator:
Basic weighted-average shares outstanding		11,291,202		11,239,049
Dilutive shares		457,903		524,914
Diluted weighted-average shares outstanding		11,749,105		11,763,963
Basic earnings per share	$	3.24	$	1.42
Diluted earnings per share	$	3.11	$	1.36