Quarters Ended
June 30,

Six Months Ended
June 30,

(Dollars in thousands, except share and per share data)

2023

2022

2023

2022

Numerator:

Net income (loss)

$

9,337

$

(12,162

)

$

11,831

$

(26,935

)

Less: preferred stock distributions

110

110

220

220

Net income (loss) available to common shareholders

$

9,227

$

(12,272

)

$

11,611

$

(27,155

)

Denominator:

Weighted average shares for basic earnings per share

13,478,014

14,543,234

13,573,841

14,529,170

Non-vested restricted stock units

61,579

—

58,571

—

Options

168,391

—

161,809

—

Weighted average shares for diluted earnings per share (1)

13,707,984

14,543,234

13,794,221

14,529,170

Earnings per share - Basic

$

0.68

$

(0.84

)

$

0.86

$

(1.87

)

Earnings per share - Diluted

$

0.67

$

(0.84

)

$

0.84

$

(1.87

)