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BASIC AND DILUTED INCOME PER SHARE
 9 Months Ended
Sep. 30, 2023
BASIC AND DILUTED INCOME PER COMMON SHARE  
BASIC AND DILUTED INCOME PER COMMON SHARE

4.          BASIC AND DILUTED INCOME PER COMMON SHARE

Basic and diluted income per common share were calculated using the following:

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Three Months Ended

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Nine Months Ended

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September 30,

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September 30,

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2023

    

2022

    

2023

    

2022

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Net Income

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$

17,459

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$

5,232

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$

41,596

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$

11,054

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Basic and Diluted Common Shares

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Weighted Average Shares Outstanding - Basic

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11,446

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11,417

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11,437

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11,417

Dilution for Assumed Exercises of Nonvested Restricted Stock Units

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69

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—

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58

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1

Weighted Average Common Shares Outstanding - Diluted

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11,515

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11,417

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11,495

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11,418

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Basic income per common share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted income per common share is calculated by dividing net income by the weighted average number of common and potential dilutive common shares outstanding. The Company uses the treasury stock method to account for the effect of nonvested restricted stock units on the computation of diluted income per share. For the three and nine months ended September 30, 2023, 128 thousand nonvested restricted stock units would have been anti-dilutive. There were no restricted stock units vested, issued or forfeited in the period ended September 30, 2023.

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For the three months ended September 30, 2022, all 160 thousand nonvested restricted stock units would have been anti-dilutive. For the nine months ended September 30, 2022, none of the nonvested restricted stock units would have been anti-dilutive.