XML 31 R21.htm IDEA: XBRL DOCUMENT
v3.23.2

EARNINGS PER COMMON SHARE | 6 Months Ended
--- | ---
Jun. 30, 2023
Earnings Per Share [Abstract] |
EARNINGS PER COMMON SHARE | EARNINGS PER COMMON SHARE The following table presents computations of basic and diluted earnings per common share (“EPS”) for the three and six months ended June 30, 2023:
|  | Three Months Ended June 30, 2023 |  | Six Months Ended June 30, 2023
($ in thousands except per share data) |  | Common Stock |  | Class B Common Stock |  |  |  | Common Stock |  | Class B Common Stock |  |
Net income |  | $ | 17,732 |  |  | $ | 147 |  |  |  |  | $ | 37,846 |  |  | $ | 311 |  |  |
Weighted average common shares outstanding |  | 57,503,213 |  |  | 477,321 |  |  |  |  | 58,017,185 |  |  | 477,321 |  |  |
Dilutive effects of restricted shares/units |  | 45,268 |  |  | — |  |  |  |  | 104,941 |  |  | — |  |  |
Dilutive effects of stock options |  | 205 |  |  | — |  |  |  |  | 866 |  |  | — |  |  |
Average shares and dilutive common shares |  | 57,548,686 |  |  | 477,321 |  |  |  |  | 58,122,992 |  |  | 477,321 |  |  |
Basic earnings per common share |  | $ | 0.31 |  |  | $ | 0.31 |  |  |  |  | $ | 0.65 |  |  | $ | 0.65 |  |  |
Diluted earnings per common share |  | $ | 0.31 |  |  | $ | 0.31 |  |  |  |  | $ | 0.65 |  |  | $ | 0.65 |  |  |
For the three and six months ended June 30, 2023, there were 609,324 and 457,960 anti-dilutive restricted shares/units and 11,232 and zero anti-dilutive stock options that were excluded from computing diluted earnings per common share. The following table presents computations of basic and diluted EPS for the three and six months ended June 30, 2022:
|  | Three Months Ended June 30, 2022 |  | Six Months Ended June 30, 2022
($ in thousands except per share data) |  | Common Stock |  | Class B Common Stock |  |  |  | Common Stock |  | Class B Common Stock |  |
Net income |  | $ | 26,504 |  |  | $ | 208 |  |  |  |  | $ | 74,645 |  |  | $ | 579 |  |  |
Less: preferred stock dividends |  | — |  |  | — |  |  |  |  | (1,409) |  |  | (11) |  |  |
Less: preferred stock redemption |  | — |  |  | — |  |  |  |  | (3,718) |  |  | (29) |  |  |
Net income allocated to common stockholders |  | $ | 26,504 |  |  | $ | 208 |  |  |  |  | $ | 69,518 |  |  | $ | 539 |  |  |
Weighted average common shares outstanding |  | 60,873,481 |  |  | 477,321 |  |  |  |  | 61,497,261 |  |  | 477,321 |  |  |
Dilutive effects of stock units |  | 245,571 |  |  | — |  |  |  |  | 269,093 |  |  | — |  |  |
Dilutive effects of stock options |  | 4,242 |  |  | — |  |  |  |  | 4,701 |  |  | — |  |  |
Average shares and dilutive common shares |  | 61,123,294 |  |  | 477,321 |  |  |  |  | 61,771,055 |  |  | 477,321 |  |  |
Basic earnings per common share |  | $ | 0.44 |  |  | $ | 0.44 |  |  |  |  | $ | 1.13 |  |  | $ | 1.13 |  |  |
Diluted earnings per common share |  | $ | 0.43 |  |  | $ | 0.44 |  |  |  |  | $ | 1.13 |  |  | $ | 1.13 |  |  |
For the three and six months ended June 30, 2022, there were 354,484 and 806 anti-dilutive restricted shares/units and no anti-dilutive stock options that were excluded from computing diluted earnings per common share.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration