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Earnings per share (Tables)
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share

Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the periods. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and is calculated using the treasury stock method for unvested shares.

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In thousands, except share data)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

2,637

 

 

$

1,388

 

 

$

4,421

 

 

$

2,104

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

13,780,074

 

 

 

13,961,862

 

 

 

13,888,569

 

 

 

13,979,411

 

Diluted(1)

 

 

14,051,466

 

 

 

14,172,024

 

 

 

14,129,262

 

 

 

14,180,614

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.19

 

 

$

0.10

 

 

$

0.32

 

 

$

0.15

 

Diluted

 

$

0.19

 

 

$

0.10

 

 

$

0.31

 

 

$

0.15

 

(1)
For the three and six months ended June 30, 2024 and 2023, diluted weighted average shares outstanding are calculated by the inclusion of unvested restricted stock units ("RSUs").