v3.25.2
Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Schedule of Cash Dividends Declared The following table details our cash dividends declared and paid in 2025 through the date hereof:
(Dollars in thousands)
Declaration DateRecord DatePayment DatePer Share Amount
Total Declared(1)
February 26, 2025March 14, 2025March 31, 2025$0.3125 $6,641 
April 30, 2025May 23, 2025June 24, 20250.3125 6,731 
Total$0.6250 $13,372 
(1) The total declared reflects the cash dividends declared in relation to common stock, deferred stock units ("DSUs"), unvested restricted stock and unvested RSUs.
Schedule of Basic and Diluted Net Income Per Common Shares
The components of basic and diluted net income per common share were as follows for the periods stated:
For the Three Months Ended June 30,
For the Six Months Ended June 30,
(in thousands, except for share and per share amounts)2025202420252024
Numerator:
Net income$4,552 $3,425 $9,748 $7,661 
Denominator:
Basic weighted average common shares outstanding20,580,044 20,252,452 20,510,561 20,211,500 
Diluted weighted average common shares outstanding20,750,971 20,473,751 20,746,786 20,500,335 
Basic net income per common share$0.22 $0.17 $0.48 $0.38 
Diluted net income per common share
$0.22 $0.17 $0.47 $0.37 
Schedule of Activities Under Equity Plan
The following table summarizes the activities under the 2020 Equity Plan from January 1, 2025, through June 30, 2025:
 Activity
Total equity securities available at January 1, 2025
962,044 
RSU, DSU and restricted stock awarded to eligible employees, net of forfeitures
(354,820)
Total equity securities available at June 30, 2025
607,224 
The following table summarizes the activities under the ESPP from January 1, 2025 through June 30, 2025:
 Activity
Total ESPP equity securities available at January 1, 202588,007 
ESPP common stock purchased by eligible employees(11,558)
Total ESPP equity securities available at June 30, 202576,449 
Summary of Outstanding RSUs
The following table details activities with respect to outstanding RSUs, DSUs, and restricted stock under the 2020 Equity Plan for the six months ended June 30, 2025:
Shares
Weighted
Average Grant
Date Fair Value per Share
Unvested at January 1, 2025
928,522 $10.81 
Granted365,430 14.95 
Vested(461,200)9.61 
Forfeited(10,610)13.21 
Unvested at June 30, 2025
822,142 $13.29 
Schedule of Stock Based Compensation Expense
The following table reflects the items for stock-based compensation expense in the Condensed Consolidated Statements of Operations for the periods stated:
For the Three Months Ended June 30,
For the Six Months Ended June 30,
(Dollars in thousands)2025202420252024
Performance-based RSUs$457 $458 $946 $919 
Time-based RSUs, DSUs and restricted stock742 679 1,498 1,346 
ESPP24 22 49 42 
Total stock-based compensation$1,223 $1,159 $2,493 $2,307