EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2025

Earnings per share is based on the weighted average number of shares outstanding for the period. A reconciliation of the basic and diluted earnings per share is as follows:


	Three Months Ended
(Share count in thousands)	March 31, 2025		March 31, 2024

Basic
Net income attributable to common stockholders	$	3,197	$	4,088
Weighted average common shares outstanding	9,989		10,439
Basic earnings per share	$	0.32	$	0.39
Diluted
Net income attributable to common stockholders	$	3,197	$	4,088
Weighted average common shares outstanding	9,989		10,439

Add: Dilutive stock options outstanding	12		4
Average shares and dilutive potential common shares	10,001		10,443
Diluted earnings per share	$	0.32	$	0.39
Additional common stock option shares that have not been included due to their antidilutive effect	—		20

Dilutive shares outstanding consist of exercisable stock options whose strike prices were less than the quarterly average closing price of the Company’s common stock. At March 31, 2025 and March 31, 2024, there were 0 and 20 exercisable stock options, respectively, with a potentially dilutive effect. However their strike prices were higher than the quarterly average closing prices of the Company’s common stock and thus, excluded from diluted shares outstanding.