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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2025
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 nine months ended September 30, 2025 and 2024:

   
Three Months Ended September 30,
    
Nine Months Ended September 30,
  
(in thousands, except share data)
  
2025
    
2024
    
2025
    
2024
  
                         
Numerator:
                        
Net (loss) income
  
$
(1,352
)
  
$
(132
)
  
$
10,032
    
$
495
  
                                 
Denominator:
                                
Basic weighted-average common shares outstanding
    
8,142,441
      
8,422,514
      
8,378,083
      
8,412,923
  
Dilutive effect of service-based restricted stock awards granted to Board of Directors under the Plan
    
-
      
-
      
17,555
      
2,041
  
Dilutive effect of service-based restricted stock awards granted to employees under the Plan
    
-
      
-
      
107,149
      
96,935
  
Diluted weighted-average common shares outstanding
    
8,142,441
      
8,422,514
      
8,502,787
      
8,511,899
  
 
                                
Basic earnings (loss) per share
    
(0.17
)
    
(0.02
)
    
1.20
      
0.06
  
Diluted earnings (loss) per share
    
(0.17
)
    
(0.02
)
    
1.18
      
0.06