Basic net income (loss) per common share is computed by dividing net income less dividends on preferred stock by the weighted average number of shares of common stock outstanding. The diluted net income per common share is computed by adjusting the weighted average number of shares of common stock outstanding to include the effects of outstanding stock options, if dilutive, using the treasury stock method. Dilution is not applicable in periods of net loss. For the three and six months ended June 30, 2025, 2024 and 2023, the difference in the weighted average number of basic and diluted common shares was due solely to the effects of outstanding stock options. There were 958,000, 896,000 and 588,000 outstanding options considered to be anti-dilutive for the three months ended June 30, 2025, 2024 and 2023, respectively. There were 958,000, 888,000 and 6,600 outstanding options considered to be anti-dilutive for the six months ended June 30, 2025, 2024 and 2023, respectively.

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations:



	For the Three Months Ended June 30,
		2025					2024					2023
			Income	Shares		Per Share		Income	Shares		Per Share		Income	Shares		Per Share
			(Numerator)	(Denominator)		Amount		(Numerator)	(Denominator)		Amount		(Numerator)	(Denominator)		Amount
	(In Thousands, except per share data)

Basic earnings per share:
Income available to common stockholders		$	3,082	17,175	$	0.18	$	2,369	17,005	$	0.14	$	8,430	16,824	$	0.50

Effect of dilutive securities:
Stock options			-	-				-	-				-	7

Diluted earnings per share:
Income available to common stockholders		$	3,082	17,175	$	0.18	$	2,369	17,005	$	0.14	$	8,430	16,831	$	0.50


	For the Six Months Ended June 30,
		2025					2024					2023
			Income	Shares		Per Share		Income	Shares		Per Share		Income	Shares		Per Share
			(Numerator)	(Denominator)		Amount		(Numerator)	(Denominator)		Amount		(Numerator)	(Denominator)		Amount
	(In Thousands, except per share data)

Basic (loss) earnings per share:
(Loss) Income available to common stockholders		$	(5,724)	17,144	$	(0.33)	$	7,801	16,968	$	0.46	$	16,363	16,886	$	0.97

Effect of dilutive securities:
Stock options			-	-				-	-				-	124

Diluted (loss) earnings per share:
(Loss) Income available to common stockholders		$	(5,724)	17,144	$	(0.33)	$	7,801	16,968	$	0.46	$	16,363	17,010	$	0.96