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Earnings Per Share | 3 Months Ended
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Mar. 31, 2025
Earnings Per Share [Abstract] |
Earnings Per Share | EARNINGS PER SHARE The following table sets forth the computation of the basic and diluted earnings per share (in thousands, except per share data):
|  |  | Three months ended March 31, |
|  |  |  |  | 2025 |  | 2024 |  |  |
Numerator for basic and diluted earnings per share: |  |  |  |  |  |  |  |  |  |
Net income |  |  |  |  | $ | 20,926 |  |  | $ | 6,973 |  |  |  |
Less: Earnings allocated to unvested restricted stock |  |  |  |  | (347) |  |  | (101) |  |  |  |
Income attributable to common stockholders |  |  |  |  | $ | 20,579 |  |  | $ | 6,872 |  |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |
Denominator for basic earnings per common share – weighted average shares outstanding |  |  |  |  | 15,243 |  |  | 14,876 |  |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |
Stock options |  |  |  |  | 146 |  |  | 17 |  |  |  |
Performance awards |  |  |  |  | — |  |  | 416 |  |  |  |
Denominator for diluted earnings per common share – weighted average shares outstanding |  |  |  |  | 15,389 |  |  | 15,309 |  |  |  |
Basic earnings per common share: |  |  |  |  | $ | 1.35 |  |  | $ | 0.46 |  |  |  |
Diluted earnings per common share: |  |  |  |  | $ | 1.34 |  |  | $ | 0.45 |  |  |  |
Stock options excluded from the computation of diluted earnings per share because the inclusion of such stock options would result in an antidilutive effect are as follows (in thousands):
|  |  | Three months ended March 31, |
|  |  |  |  | 2025 |  | 2024 |  |  |
Antidilutive stock options |  |  |  |  | 189 |  |  | 1,565 |  |  |  |

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