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Earnings Per Share
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 4 – EARNINGS PER SHARE

Earnings per share are based on the weighted average number of shares outstanding during the period. A computation of basic earnings per share and diluted earnings per share follows:

 

 

 

Three Months Ended

 

(Dollars in thousands, except share data)

 

March 31,

 

 

 

2025

 

 

2024

 

Basic

 

 

 

 

 

 

Net (loss) income

 

$

(13,906

)

 

$

5,634

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

10,676,068

 

 

 

7,552,680

 

 

 

 

 

 

 

 

Basic (loss) earnings per common shares

 

$

(1.30

)

 

$

0.75

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

Net (loss) income

 

$

(13,906

)

 

$

5,634

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

10,676,068

 

 

 

7,552,680

 

Plus dilutive stock options and restricted stock units

 

 

64,016

 

 

 

47,336

 

 

 

 

 

 

 

 

Weighted average common shares outstanding and potentially dilutive shares

 

 

10,740,084

 

 

 

7,600,016

 

 

 

 

 

 

 

 

Diluted (loss) earnings per common share

 

$

(1.29

)

 

$

0.74

 

 

There were no stock options that were considered anti-dilutive to earnings per share for the three months ended March 31, 2025 and 4,500 stock options that were considered anti-dilutive to earnings per share for the three months ended March 31, 2024.