Earnings Per Share

12 Months Ended

Dec. 31, 2024

Note 14 – Earnings Per Share

We determine basic earnings per share (“EPS”) by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted EPS is determined by dividing net income available to common shareholders by the weighted-average number of shares outstanding, increased by both the number of shares that would be issued assuming the exercise of instruments under our incentive stock plan.


	For the years ended
	December 31,
(Dollars in thousands except shares and per share data)	2024		2023		2022
Numerator for earnings per share:
Net income from continuing operations	$	20,245	$	22,224	$	11,734
Net (income) loss attributable to noncontrolling interest	(154)		226		660
Net income available to common shareholders from continuing operations	20,091		22,450		12,394
Net income from discontinued operations available to common shareholders - basic and diluted	—		8,782		2,653
Net income available to common shareholders	$	20,091	$	31,232	$	15,047

Denominator:
Weighted-average shares outstanding - basic	12,890,161		12,694,206		12,279,462
Effect of dilutive stock options and restricted stock units	246,597		303,126		591,272
Weighted-average shares outstanding - diluted	13,136,758		12,997,332		12,870,734

Earnings per share from continuing operations - basic	$	1.56	$	1.77	$	1.01
Earnings per share from discontinued operations - basic	$	—	$	0.69	$	0.22
Earnings per common share - basic	$	1.56	$	2.46	$	1.23
Earnings per share from continuing operations - diluted	$	1.53	$	1.72	$	0.96
Earnings per share from discontinued operations - diluted	$	—	$	0.68	$	0.21
Earnings per common share - diluted	$	1.53	$	2.40	$	1.17

Instruments not included in the computation of diluted EPS because the effect would be antidilutive	136,701		364,105		113,427