| Schedule of Basic and Diluted Earnings Per Share |
The following table sets forth the calculation of basic and diluted earnings per share for the year ended December 31, 2025 and December 31, 2024:
| | | | | | | | | | | | | | | | | December 31, 2025 | | December 31, 2024 | | | (in thousands, except share and per share data) | | Basic Earnings per Common Share: | | | | | | Net income allocable to common stockholders | | $ | 44,024 | | | $ | 28,750 | | | Dividends allocated to participating securities | | (172) | | | (155) | | | Net income (loss) to common stockholders - basic | | 43,852 | | | 28,595 | | | Basic weighted average common shares outstanding | | 23,682,302 | | | 24,179,039 | | | Basic earnings per common share | | $ | 1.85 | | | $ | 1.18 | | | Diluted Earnings per Common Share: | | | | | | Net income (loss) to common stockholders - basic | | $ | 44,024 | | | $ | 28,750 | | | Dividends allocated to participating securities | | (172) | | | (155) | | | Net income (loss) to common stockholders - diluted | | 43,852 | | | 28,595 | | | Basic weighted average common shares outstanding | | 23,682,302 | | | 24,179,039 | | | Net effect of dilutive equity awards | | 632,323 | | | 217,812 | | | Diluted weighted average common shares outstanding | | 24,314,625 | | | 24,396,851 | | | Diluted earnings per common share | | $ | 1.80 | | | $ | 1.17 | |
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