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EARNINGS PER SHARE
12 Months Ended
Dec. 31, 2024
EARNINGS PER SHARE  
EARNINGS PER SHARE

13.EARNINGS PER SHARE

The following table reconciles the number of shares of common stock used to calculate basic and diluted earnings per share:

December 31,

(in thousands, except per share amounts)

    

2024

    

2023

    

2022

BASIC EARNINGS PER SHARE OF COMMON STOCK:

 

  

 

  

 

  

Net income - basic

$

63,494

 

$

58,291

 

$

20,346

Weighted shares outstanding

 

11,449,864

 

 

11,438,965

 

 

11,416,667

Basic earnings per share of common stock

$

5.55

 

$

5.10

 

$

1.78

 

 

DILUTED EARNINGS PER SHARE OF COMMON STOCK:

 

 

Net income - basic

$

63,494

 

$

58,291

 

$

20,346

Weighted shares outstanding - basic

11,449,864

 

11,438,965

 

11,416,667

Effect of dilutive securities

151,740

 

67,995

 

Weighted shares outstanding - diluted

11,601,603

 

11,506,960

 

11,416,667

Diluted earnings per share of common stock

$

5.47

 

$

5.07

 

$

1.78