Earnings per Share

9 Months Ended

Sep. 30, 2024

Earnings per Share

Earnings per Share

11. 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. Shares excluded from the calculation of diluted earnings per share because their inclusion would be anti-dilutive were 5,728 and 160,384 for the three months ended September 30, 2024 and 2023, respectively, and 24,298 and 210,457 for the nine months ended September 30, 2024 and 2023, respectively.

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator:
Net income	$	1,293	$	3,857	$	12,749	$	21,253
Denominator:
Basic weighted-average common shares outstanding		11,107,126		11,432,794		11,141,264		11,418,372
Dilutive shares		765,657		395,022		715,140		443,496
Diluted weighted-average common shares outstanding		11,872,783		11,827,816		11,856,404		11,861,868
Basic earnings per share	$	0.12	$	0.34	$	1.14	$	1.86
Diluted earnings per share	$	0.11	$	0.33	$	1.08	$	1.79