Earning Per Share

6 Months Ended

Jun. 30, 2025

11.

EARNINGS PER SHARE

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


	Three Months Ended June 30,				Six Months Ended June 30,
(In Thousands, except share and per share data)	2025		2024		2025		2024
Net income	$	7,387	$	5,804	$	22,730	$	11,530
Basic weighted average common shares outstanding		37,136,851		36,970,768		37,122,883		36,966,371
Net effect of dilutive stock options and warrants		2,957		2,353		3,787		4,637
Net effect of dilutive restricted stock awards and units		104,200		67,627		105,169		71,888
Diluted weighted average common shares outstanding		37,244,008		37,040,748		37,231,839		37,042,896
Net income per common share:
Basic	$	0.20	$	0.16	$	0.61	$	0.31
Diluted	$	0.20	$	0.16	$	0.61	$	0.31

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 June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Stock Options		14,814		24,961		14,914		117,191
Warrants		—		—		—		—
Restricted Stock Awards and Units		333,903		384,724		336,903		384,724
Total dilutive securities		348,717		409,685		351,817		501,915

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 June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Stock Options		548,200		599,000		548,100		506,500
Warrants		1,537,484		1,537,484		1,537,484		1,537,484
Restricted Stock Awards and Units		203,400		120,000		200,400		120,000
Total anti-dilutive securities		2,289,084		2,256,484		2,285,984		2,163,984