XML 28 R21.htm IDEA: XBRL DOCUMENT
v3.25.1

Earnings Per Share | 3 Months Ended
--- | ---
Mar. 31, 2025
Earnings Per Share [Abstract] |
Earnings Per Share | 11. Earnings Per Share Earnings per share was computed using the weighted average number of common shares and common share equivalents outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share attributable to class A common shares, class A common shares designated as class A-2 common shares, and class B common shares:
|  | Quarters Ended March 31, |
(Dollars in thousands, except share and per share data) |  | 2025 |  |  | 2024 |
Numerator: |  |  |  |  |  |
Net income (loss) |  | $ | (3,989 | ) |  | $ | 11,366 |
Less: preferred stock distributions |  |  | 110 |  |  |  | 110 |
Net income available to common shareholders |  | $ | (4,099 | ) |  | $ | 11,256 |
Denominator: |  |  |  |  |  |
Weighted average shares for basic earnings per share |  |  | 13,867,271 |  |  |  | 13,579,210 |
Non-vested restricted stock units |  |  | — |  |  |  | 47,335 |
Options |  |  | — |  |  |  | 60,867 |
Weighted average shares for diluted earnings per share |  |  | 13,867,271 |  |  |  | 13,687,412 |
Net income per share available to common shareholders (1) |  |  |  |  |  |
Basic |  | $ | (0.30 | ) |  | $ | 0.83 |
Diluted |  | $ | (0.30 | ) |  | $ | 0.82 |
(1) For the quarter ended March 31, 2025, “weighted average shares outstanding - basic” was used to calculate “diluted earnings per share” due to a net loss for the period. If the Company had not incurred a loss during the quarter ended March 31, 2025, 13,986,069 weighted average shares would have been used to compute the diluted loss per share calculation. In addition to the basic shares, weighted average shares for the diluted calculation for the quarter ended March 31, 2025 would have included 118,798 share equivalents for options. The weighted average shares outstanding used to determine dilutive earnings per share does not include 166,669 options and 550,000 options for the quarters ended March 31, 2025 and 2024, respectively, which were deemed to be anti-dilutive.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration