EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2024

EARNINGS PER SHARE

EARNINGS PER SHARE

10. EARNINGS PER SHARE

Earnings per share are calculated as follows (in thousands, except earnings per share):

	December 31,
	2024		2023
Basic earnings per share
Income available to common shareholders	$	7,675	$	795
Weighted average shares outstanding		5,289		5,258
Basic earnings per share	$	1.45	$	0.15
Diluted earnings per share
Income available to common shareholders	$	7,675	$	795
Weighted average shares outstanding		5,289		5,258
Dilutive effect of restricted stock		—		34
Total weighted average shares outstanding		5,289		5,292
Diluted earnings per share	$	1.45	$	0.15

There was no restricted stock or other common stock equivalents excluded from the diluted earnings per share calculation for the years ended December 31, 2024 and December 31, 2023.