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EARNINGS PER SHARE | 6 Months Ended
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Jun. 30, 2024
EARNINGS PER SHARE [Abstract] |
EARNINGS PER SHARE | 5. EARNINGS PER SHARE Basic earnings per share (“EPS”) are computed based on the weighted average number of common shares outstanding during the period. Diluted EPS includes additional common shares that would have been outstanding if potential common shares with a dilutive effect, such as stock awards from the Company’s restricted stock plan, had been issued. Anti-dilutive securities represent potentially dilutive securities which are excluded from the computation of diluted EPS as their impact would be anti-dilutive. Diluted EPS is computed using the treasury stock method. The following table sets forth the computation of basic and diluted EPS for the three and six months ended June 30, 2024 and 2023:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(in thousands, except share data) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 101 |  |  | $ | 531 |  |  | $ | 626 |  |  | $ | 1,195 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted-average common shares outstanding |  |  | 8,415,795 |  |  |  | 8,327,178 |  |  |  | 8,406,156 |  |  |  | 8,315,214 |
Dilutive effect of service-based restricted stock awards granted to Board of Directors under the Plan |  |  | 8,330 |  |  |  | 7,156 |  |  |  | 596 |  |  |  | 367 |
Dilutive effect of service-based restricted stock awards granted to employees under the Plan |  |  | 80,943 |  |  |  | 32,570 |  |  |  | 60,404 |  |  |  | 14,388 |
Diluted weighted-average common shares outstanding |  |  | 8,505,068 |  |  |  | 8,366,904 |  |  |  | 8,467,156 |  |  |  | 8,329,969 |
Basic earnings per share |  |  | 0.01 |  |  |  | 0.06 |  |  |  | 0.07 |  |  |  | 0.14 |
Diluted earnings per share |  |  | 0.01 |  |  |  | 0.06 |  |  |  | 0.07 |  |  |  | 0.14 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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