The following table sets forth the calculation of basic and diluted earnings per common share based on the weighted average number of shares of common stock outstanding (dollars in thousands, except share and per share data):



	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net income	$	13,132	$	20,631	$	32,071	$	34,350
Preferred stock dividends(1)	(3,148)		(3,148)		(6,296)		(6,296)
Participating securities' share in earnings	(630)		(602)		(1,255)		(1,213)


Net income attributable to common stockholders	$	9,354	$	16,881	$	24,520	$	26,841
Weighted average common shares outstanding, basic	77,043,597		79,474,862		77,644,716		80,221,098

Weighted average common shares outstanding, diluted	78,025,668		80,208,877		78,535,839		80,918,798
Earnings per common share, basic(2)	$	0.12	$	0.21	$	0.32	$	0.33
Earnings per common share, diluted(2)	$	0.12	$	0.21	$	0.31	$	0.33

(1)Includes preferred stock dividends declared and paid on outstanding shares of Series A Preferred Stock and Series C Preferred Stock.

(2)Basic and diluted earnings per common share are computed independently based on the weighted average shares of common stock outstanding. Diluted earnings per common share includes the impact of participating securities outstanding. The sum of the quarterly earnings (loss) per common share amounts may not agree to the total for the six months ended June 30, 2026 and 2025.