v3.25.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share

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.