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Earnings Per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share
(2) Earnings Per Share

The Company computes earnings per share in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share (“ASC 260”). A reconciliation of the component parts of earnings per share for the three and nine months ended September 30, 2024 and 2023 is as follows:

(in thousands, except per share data)   For the three months ended     For the nine months ended  
 
September 30,
    
September 30,
  
   
2024
    
2023
    
2024
    
2023
  
                         
Net income
  
$
12,875
    
$
14,680
    
$
37,552
    
$
48,798
  
Weighted average common shares
    
19,010
      
19,024
      
19,019
      
19,024
  
Effect of Dilutive Securities:
                               
Stock Options and Restricted Stock Units
    
26
      
-
      
15
      
-
  
Weighted average common shares including potential dilutive shares
    
19,036
      
19,024
      
19,034
      
19,024
  
                                 
Basic EPS
  
$
0.68
    
$
0.77
    
$
1.97
    
$
2.57
  
                                 
Diluted EPS
  
$
0.68
    
$
0.77
    
$
1.97
    
$
2.57
  

For the three and nine months ended September 30, 2024, there were 22 thousand and 48 thousand, respectively, weighted average antidilutive stock options excluded from dilutive earnings. For both the three and nine months ended September 30, 2023, there were 77 thousand weighted average antidilutive stock options excluded from dilutive earnings. The stock options are antidilutive because the strike price is greater than the average fair value of the Company’s common stock for the periods presented.