EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

EARNINGS PER SHARE

EARNINGS PER SHARE

13.EARNINGS PER SHARE

The following table reconciles the number of common shares used to calculate basic and diluted earnings per share:

	December 31,
(in thousands, except per share amounts)	2023		2022		2021
Basic earnings (loss) per common share:
Net income (loss) - basic	$	58,291	$	20,346	$	16,255
Weighted shares outstanding		11,438,965		11,416,667		11,410,728
Basic earnings (loss) per common share:	$	5.10	$	1.78	$	1.42
Diluted earnings (loss) per common share:
Net income (loss) - basic	$	58,291	$	20,346	$	16,255
Weighted shares outstanding - basic		11,438,965		11,416,667		11,410,728
Effect of dilutive securities		67,995		—		—
Weighted shares outstanding - diluted		11,506,960		11,416,667		11,410,728
Diluted earnings (loss) per common share	$	5.07	$	1.78	$	1.42