Earning Per Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Earning per share

11.EARNINGS PER SHARE

The following table sets forth the composition of earnings per share:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In Thousands, except share and per share data)	2023		2022		2023		2022
Net income	$	1,240	$	1,772	$	1,033	$	4,902
Basic weighted average common shares outstanding		16,235,144		10,590,079		15,984,151		10,087,341
Net effect of dilutive stock options and warrants		—		—		—		49,116
Net effect of dilutive restricted stock awards		—		—		—		—
Diluted weighted average common shares outstanding		16,235,144		10,590,079		15,984,151		10,136,457
Net income per common share:
Basic	$	0.08	$	0.17	$	0.06	$	0.49
Diluted	$	0.08	$	0.17	$	0.06	$	0.48

The following is a summary of securities that could potentially dilute basic earnings per common share in future periods that were included in the computation of diluted earnings per common share in the periods presented.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Stock Options		—		—		—		—
Warrants		—		—		—		1,537,484
Restricted Stock Awards		—		—		—		—
Total dilutive securities		—		—		—		1,537,484

The following is a summary of securities that could potentially dilute basic earnings per share in future periods that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Stock Options		260,000		195,700		260,000		195,700
Warrants		1,537,484		1,537,484		1,537,484		—
Restricted Stock Awards		87,000		—		87,000		—
Total anti-dilutive securities		1,884,484		1,733,184		1,884,484		195,700