EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2024

EARNINGS PER SHARE

EARNINGS PER SHARE

15. EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. Potential common shares that may be issued by the Company relate solely to outstanding stock options and are determined using the treasury stock method. Restricted stock is participating, and therefore, is included in the basic EPS calculation. The following table sets forth the computation of basic and diluted earnings per share:

(Amounts in thousands, except earnings per share data)	Year ended December 31,
	2024		2023
Net income	$	6,229	$	6,596
Weighted-average common shares outstanding		5,001		5,010
Basic earnings per share		1.25		1.32
Weighted-average common shares outstanding	$	5,001	$	5,010
Common stock equivalents due to effect of stock options		9		8
Total weighted-average common shares and equivalents	$	5,010	$	5,018
Diluted earnings per share	$	1.24	$	1.31
Anti-dilutive stock options outstanding		—		1