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EARNINGS PER COMMON SHARE (Tables) | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
Schedule of Basic and Diluted 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 |  |  |
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 |  |  |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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