BASIC AND DILUTED INCOME PER COMMON SHARE

9 Months Ended

Sep. 30, 2022

BASIC AND DILUTED INCOME PER COMMON SHARE

BASIC AND DILUTED INCOME PER COMMON SHARE

3.          BASIC AND DILUTED INCOME PER COMMON SHARE

Basic and diluted income per common share were calculated using the following:

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2022		2021		2022		2021
Net Income	$	5,232	$	3,846	$	11,054	$	13,540
Basic and Diluted Common Shares
Weighted Average Shares Outstanding - Basic		11,417		11,411		11,417		11,411
Dilution for Assumed Exercises of Nonvested Restricted Stock Units		—		—		1		—
Weighted Average Common Shares Outstanding - Diluted		11,417		11,411		11,418		11,411

Basic income per common share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted income per common share is calculated by dividing net income by the weighted average number of common and potential dilutive common shares outstanding. The Company uses the treasury stock method to account for the effect of nonvested restricted stock units on the computation of diluted income per share. For the three months ended September 30, 2022, all 160 nonvested restricted stock units would have been anti-dilutive. For the nine months ended September 30, 2022, none of the nonvested restricted stock units would have been anti-dilutive. There were no nonvested restricted stock units granted or outstanding during the three or nine months ended September 30, 2021.