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Earnings Per Common Share (Tables)
3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Summary of Earnings Per Common Share

Earnings per common share are calculated as follows:

 

 

 

For the Three Months
Ended March 31,

 

(unaudited, in thousands, except shares and per share amounts)

 

2025

 

 

2024

 

Numerator for both basic and diluted earnings per common share:

 

 

 

 

 

 

Net (loss) income available to common shareholders

 

$

(11,523

)

 

$

33,162

 

Denominator:

 

 

 

 

 

 

Total average basic common shares outstanding

 

 

76,830,460

 

 

 

59,382,758

 

Effect of dilutive stock options and other stock compensation

 

 

190,132

 

 

 

140,921

 

Total diluted average common shares outstanding

 

 

77,020,592

 

 

 

59,523,679

 

(Loss) earnings per common share - basic

 

$

(0.15

)

 

$

0.56

 

(Loss) earnings per common share - diluted

 

$

(0.15

)

 

$

0.56