Net Income Per Common Share (Tables)

9 Months Ended

Sep. 30, 2023

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