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Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2024

The following table summarizes the computation of earnings per share for the three and nine months ended September 30, 2024 and September 30, 2023.


	Three months ended				Nine months ended
	September 30,				September 30,
	2024		2023		2024		2023
Earnings (loss) per common share - basic:
Income available to common shareholders (in thousands):
Net income (loss)	$	4,235	$	(10,137)	$	12,344	$	656
Less: Income attributable to unvested restricted stock awards		(14)		—		(40)		(2)
Net income (loss) available to common shareholders	$	4,221	$	(10,137)	$	12,304	$	654

Weighted average shares outstanding:
Common shares outstanding, including unvested restricted stock		14,233,612		14,126,114		14,209,916		14,174,804
Less: Unvested restricted stock		(45,921)		(46,088)		(45,855)		(48,282)
Weighted-average common shares outstanding - basic		14,187,691		14,080,026		14,164,061		14,126,522

Earnings (loss) per common share - basic	$	0.30	$	(0.72)	$	0.87	$	0.05

Earnings (loss) per common share - diluted:
Income available to common shareholders (in thousands):
Net income (loss)	$	4,235	$	(10,137)	$	12,344	$	656
Less: Income attributable to unvested restricted stock awards		(14)		—		(40)		(2)
Net income (loss) available to common shareholders	$	4,221	$	(10,137)	$	12,304	$	654

Weighted average shares outstanding:
Common shares outstanding, including unvested restricted stock		14,233,612		14,126,114		14,209,916		14,174,804
Less: Unvested restricted stock		(45,922)		(46,088)		(45,855)		(48,282)
Plus: Effect of dilutive options		26,896		—		34,272		72,656
Weighted-average common shares outstanding - diluted		14,214,586		14,080,026		14,198,333		14,199,178

Earnings (loss) per common share - diluted	$	0.30	$	(0.72)	$	0.87	$	0.05