Net Income Per Common Share (Tables)

3 Months Ended

Mar. 31, 2023

The computation of basic and diluted net income per common share (in thousands, except for per share data) is as follows:


	Three months ended March 31,
	2023		2022
Net income	$	5,852	$	3,864
Less: net income allocated to participating securities	54		97
Net income available to common stockholders	$	5,798	$	3,767

Weighted average common shares outstanding — basic	8,418,000		8,268,000
Effect of weighted average dilutive securities	334,000		—
Weighted average common and potentially issuable common shares outstanding — diluted	8,752,000		8,268,000

Basic net income per common share	$	0.69	$	0.46
Diluted net income per common share	$	0.66	$	0.46

The computation of basic and diluted net income per participating share is as follows (in thousands, except for per share data):


	Three months ended March 31,
	2023		2022
Net income allocated to participating securities	$	54	$	97

Weighted average participating shares outstanding — basic	78,000		213,000
Effect of dilutive securities	—		—
Weighted average common and potentially issuable common shares outstanding — diluted	78,000		213,000

Basic net income per participating share	$	0.69	$	0.46
Diluted net income per participating share	$	0.69	$	0.46