EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2021

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 10. EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share:

	Year Ended December 31,
	2021		2020
Numerator:	(in thousands, except per share amounts)
Net income	$	24,768	$	4,746
Denominator:
Denominator for basic earnings per share – weighted average shares		8,815		8,775
Effect of dilutive securities:
Employee restricted stock and incentive stock options		158		99
Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversion		8,973		8,874
Basic earnings per share	$	2.81	$	0.54
Diluted earnings per share	$	2.76	$	0.53
Weighted average anti-dilutive employee restricted stock and incentive stock options		106		313