3. Earnings Per Share Earnings per common share have been computed based on the following: | | | | | | | | For the three months ended | | | March 31, | | | 2026 | | 2025 | | | | (In thousands, except per share data) | | Net income (loss), as reported | $ | 5,833 | | $ | (9,796) | | Less: Dividends paid and earnings allocated to participating securities | | (178) | | | (132) | | Income (loss) attributable to common stock | $ | 5,655 | | $ | (9,928) | | | | | | | | | Divided by: | | | | | | | Weighted average common stock and participating securities outstanding | | 34,711 | | | 34,474 | | Less: Weighted average participating securities | | (735) | | | (542) | | Total weighted average common stock outstanding | | 33,976 | | | 33,932 | | | | | | | | | Basic earnings (loss) per common share | $ | 0.17 | | $ | (0.29) | | Diluted earnings (loss) per common share (1) | $ | 0.17 | | $ | (0.29) | | Dividend Payout ratio | | 129.4 | % | | not meaningful | |
(1) There were no common stock equivalents outstanding during the periods presented.
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