Quarters Ended
September 30,

Nine Months Ended
September 30,

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

2023

2022

2023

2022

Numerator:

Net income (loss)

$

7,700

$

23,746

$

19,531

$

(3,189

)

Less: preferred stock distributions

110

110

330

330

Net income (loss) available to common shareholders

$

7,590

$

23,636

$

19,201

$

(3,519

)

Denominator:

Weighted average shares for basic earnings per share

13,522,874

14,589,797

13,556,665

14,549,601

Non-vested restricted stock units

65,609

119,469

57,721

—

Options

225,962

86,696

184,490

—

Weighted average shares for diluted earnings per share (1)

13,814,445

14,795,962

13,798,876

14,549,601

Earnings per share - Basic

$

0.56

$

1.62

$

1.42

$

(0.24

)

Earnings per share - Diluted

$

0.55

$

1.60

$

1.39

$

(0.24

)