Basic and diluted earnings per share are computed by dividing net income by the weighted average number of shares outstanding during the respective periods. In addition, the Company has periodically issued share-based payment awards that contain non-forfeitable rights to dividends and are therefore considered participating securities. Restricted shares of common stock (participating securities) outstanding and a reconciliation of weighted average shares outstanding are as follows:


	Three months ended				Six months ended
	June 30,				June 30,
(in thousands)	2025		2024		2025		2024
Net income available for stockholders:	$	4,162	$	5,585	$	6,368	$	10,182
Less: Adjustments for earnings attributable to participating securities		(129)		(719)		(258)		(839)
Net income used in calculating earnings per share	$	4,033	$	4,866	$	6,110	$	9,343

Weighted average shares outstanding (including participating securities)		34,985		34,708		34,931		34,670
Adjustment for participating securities		(917)		(886)		(904)		(883)
Shares used in calculating basic and diluted earnings per share		34,068		33,822		34,027		33,787