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Net Income Per Common Share (Tables) | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Computation of basic and diluted net income per common share: | The computation of basic and diluted net income per common share (in thousands, except for per share data) is as follows:
| Three months ended September 30, |  | Nine months ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Net income | $ | 4,354 |  |  | $ | 1,319 |  |  | $ | 18,142 |  |  | $ | 7,371 |
Less: net income allocated to participating securities | — |  |  | 13 |  |  | — |  |  | 122 |
Net income available to common shareholders | $ | 4,354 |  |  | $ | 1,306 |  |  | $ | 18,142 |  |  | $ | 7,249 |
Weighted average common shares outstanding — basic | 8,623 |  |  | 8,414 |  |  | 8,515 |  |  | 8,337 |
Effect of weighted average dilutive securities | 219 |  |  | 4 |  |  | 201 |  |  | 1 |
Weighted average common and potentially issuable common shares outstanding — diluted | 8,842 |  |  | 8,418 |  |  | 8,716 |  |  | 8,338 |
Basic net income per common share | $ | 0.50 |  |  | $ | 0.16 |  |  | $ | 2.13 |  |  | $ | 0.87 |
Diluted net income per common share | $ | 0.49 |  |  | $ | 0.16 |  |  | $ | 2.08 |  |  | $ | 0.87 |
The computation of basic and diluted net income per participating share for the three and nine months ended September 30, 2022 is as follows (in thousands, except for per share data):
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  |  | 2022 |  |  |  | 2022 |
Net income allocated to participating securities |  |  | $ | 13 |  |  |  |  | $ | 122 |  |
Weighted average participating shares outstanding — basic |  |  | 82 |  |  |  |  | 140 |  |
Effect of dilutive securities |  |  | — |  |  |  |  | — |  |
Weighted average common and potentially issuable common shares outstanding — diluted |  |  | 82 |  |  |  |  | 140 |  |
Basic net income per participating share |  |  | $ | 0.16 |  |  |  |  | $ | 0.87 |  |
Diluted net income per participating share |  |  | $ | 0.16 |  |  |  |  | $ | 0.87 |  |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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