3. Earnings Per Share Earnings per common share have been computed based on the following: | | | | | | | | | | | | | | For the three months ended | | For the six months ended | | | June 30, | | June 30, | | | 2025 | | 2024 | | 2025 | | 2024 | | | | (In thousands, except per share data) | Net income (loss), as reported | $ | 14,203 | | $ | 5,322 | | $ | 4,407 | | $ | 9,006 | | Less: Dividends paid and earnings allocated to participating securities | | (238) | | | (99) | | | (259) | | | (204) | | Income (loss) attributable to common stock | $ | 13,965 | | $ | 5,223 | | $ | 4,148 | | $ | 8,802 | | | | | | | | | | | | | | | Divided by: | | | | | | | | | | | | | Weighted average common shares and participating securities outstanding | | 34,511 | | | 29,789 | | | 34,493 | | | 29,765 | | Less: Weighted average participating securities | | (582) | | | (458) | | | (562) | | | (452) | | Total weighted average common shares outstanding | | 33,929 | | | 29,331 | | | 33,931 | | | 29,313 | | | | | | | | | | | | | | | Basic earnings (loss) per common share | $ | 0.41 | | $ | 0.18 | | $ | 0.12 | | $ | 0.30 | | Diluted earnings (loss) per common share (1) | $ | 0.41 | | $ | 0.18 | | $ | 0.12 | | $ | 0.30 | | Dividend Payout ratio | | 53.7 | % | | 122.2 | % | | 366.7 | % | | 146.7 | % |
(1) There were no common stock equivalents outstanding during the periods presented.
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