Earnings Per Share

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Share

NET INCOME PER COMMON SHARE

The computation of basic net income per share is based on the weighted average number of common shares outstanding for the three months ended June 30, 2023 and 2022. Diluted net income per share gives effect to restricted stock awards.

The following table summarizes the calculation of basic and diluted income per share:

	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
	(unaudited)
Net income	$	2,844,540	$	25,032,433	$	6,318,807	$	45,200,398
Weighted Average Shares - Basic	44,775,438		44,430,487		44,744,039		44,411,025
Dilutive effect of restricted stock awards	352,534		640,046		377,980		718,052
Weighted Average Shares - Diluted	45,127,972		45,070,533		45,122,019		45,129,077
Basic net income per share	$	0.06	$	0.56	$	0.14	$	1.02
Diluted net income per share	$	0.06	$	0.56	$	0.14	$	1.00