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Earnings Per Common Share | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Common Share | Earnings per Common Share Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share is calculated by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents (stock-based awards). The following table provides information relating to the calculation of earnings per common share for the years ended December 31, 2024 and 2023.
(In thousands, except per share data) |  | December 31, 2024 |  | December 31, 2023
Net income |  | $ | 43,889 |  |  | $ | 11,228 |
Average number of common shares outstanding |  | 33,267 |  | 26,572
Dilutive effect of common stock equivalents |  | 18 |  | 2
Average number of shares used to calculate diluted earnings per common share |  | 33,285 |  | 26,574
Anti-dilutive shares |  | — |  | — |
Earnings per common share |  |  |  |
Basic |  | $ | 1.32 |  |  | $ | 0.42 |
Diluted |  | $ | 1.32 |  |  | $ | 0.42 |
As of December 31, 2024 and 2023, there were no unvested common stock equivalents excluded from the calculation of diluted earnings per common share as their effect would be anti-dilutive.

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