Earnings Per Share

3 Months Ended

Mar. 31, 2025

Basic earnings per share, excluding dilution, is computed by dividing earnings available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock or resulted in the issuance of common stock that could then share in our earnings.

The following table sets forth the computation of basic and diluted earnings per share of common stock:


	For the three months ended March 31,
	2025		2024
Net income applicable to common stockholders	$	23,569	$	12,296
Weighted Average Shares
Weighted average common shares outstanding	27,721,760		27,019,625
Effect of dilutive securities
Stock-based awards	572,152		609,316

Weighted average diluted common shares	28,293,912		27,628,941
Earnings per common share
Basic earnings per common share	$	0.85	$	0.46
Effect of dilutive securities
Stock-based awards	(0.02)		(0.01)
Diluted earnings per common share	$	0.83	$	0.45