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Earnings Per Share | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Earnings Per Share | 12. 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 September 30, |  |  | Nine Months Ended September 30, |
(Dollars in thousands, except share and per share data) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 12,523 |  |  | $ | 12,760 |  |  | $ | 18,878 |  |  | $ | 34,219 |
Less: preferred stock distributions |  |  | 110 |  |  |  | 110 |  |  |  | 330 |  |  |  | 330 |
Net income available to common shareholders |  | $ | 12,413 |  |  | $ | 12,650 |  |  | $ | 18,548 |  |  | $ | 33,889 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares for basic earnings per share |  |  | 14,296,628 |  |  |  | 13,664,542 |  |  |  | 14,147,848 |  |  |  | 13,617,960 |
Options |  |  | 61,281 |  |  |  | 136,335 |  |  |  | 74,997 |  |  |  | 66,058 |
Weighted average shares for diluted earnings per share |  |  | 14,357,909 |  |  |  | 13,800,877 |  |  |  | 14,222,845 |  |  |  | 13,684,018 |
Net income per share available to common shareholders |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.87 |  |  | $ | 0.93 |  |  | $ | 1.31 |  |  | $ | 2.49 |
Diluted |  | $ | 0.86 |  |  | $ | 0.92 |  |  | $ | 1.30 |  |  | $ | 2.48 |
The weighted average shares outstanding used to determine dilutive earnings per share does not include 600,000 options and 483,338 options for the quarter and nine months ended September 30, 2025, respectively, and 550,000 options for both the quarter and nine months ended September 30, 2024 which were deemed to be anti-dilutive.

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