Earnings per Share

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022, 72,049 and 27,813 potentially dilutive securities, respectively, are excluded from the calculation of diluted earnings per share because their inclusion would be anti-dilutive.

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

	Year Ended December 31,
	2023		2022
Numerator:
Net income	$	23,985	$	36,540
Denominator:
Basic weighted-average common shares outstanding		11,426,124		11,291,202
Dilutive shares		491,432		457,903
Diluted weighted-average common shares outstanding		11,917,556		11,749,105
Basic earnings per share	$	2.10	$	3.24
Diluted earnings per share	$	2.01	$	3.11