Basic earnings per share were computed by dividing net income by the weighted-average number of common shares outstanding for each respective period. Diluted earnings per share were calculated by dividing net income by the weighted-average of all potentially dilutive common shares that were outstanding during the periods presented.

The calculation of basic and diluted earnings per share for the three and six months ended June 30, was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Numerator
Net income	$	12,705	$	9,366	$	24,222	$	18,962

Denominator
Determination of shares (in thousands)
Weighted-average common shares outstanding	4,932		4,915		4,930		4,915
Dilutive effect – share-based awards	23		49		25		40
Diluted weighted-average common shares outstanding	4,955		4,964		4,955		4,955

Earnings per common share
Basic	$	2.58	$	1.91	$	4.91	$	3.86
Diluted	$	2.56	$	1.89	$	4.89	$	3.83

For the three months ended June 30, 2025 and 2024, there were 13,293 and 5,570 share-based awards respectively, excluded from the calculation of diluted earnings per share as the effect would have been anti-dilutive. For the six months ended June 30, 2025 and 2024, there were 7,500 and zero share-based awards excluded from the calculation of diluted earnings per share as there was no anti-dilutive effect.