The calculation of basic and diluted earnings per share for the years ended December 31, 2024 and 2023 are as follows (in thousands, except per share data): | | | | | | | | | For the Years Ended December 31, | | | 2024 | | 2023 | Basic earnings per share | | | | | | | Net income | | $ | 2,994 | | $ | 9,732 | Basic weighted average shares outstanding | | | 31,941 | | | 35,555 | Basic earnings per share | | $ | 0.09 | | $ | 0.27 | | | | | | | | Diluted earnings per share | | | | | | | Net income | | $ | 2,994 | | $ | 9,732 | Weighted average shares outstanding | | | 31,941 | | | 35,555 | Effect of dilutive securities - options and restricted stock | | | 358 | | | 587 | Diluted weighted-average shares outstanding | | | 32,299 | | | 36,142 | Diluted earnings per share | | $ | 0.09 | | $ | 0.27 |
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