v3.26.1
(Loss) Earnings Per Common Share
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
(Loss) Earnings Per Common Share (Loss) Earnings Per Common Share
The following is a computation of basic and diluted earnings per common share at the periods indicated:
Three Months EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
(dollars in thousands, except earnings per share data; unaudited)
Net (loss) income$(42,105)$11,028 $(30,086)$20,758 
Basic weighted average number common shares outstanding15,243,35715,033,29615,211,57914,998,097
Dilutive effect of equity-based awards0414,6270250,679
Diluted weighted average number common shares outstanding
15,243,35715,447,92315,211,57915,248,776
Basic (loss) earnings per share$(2.76)$0.73 $(1.98)$1.38 
Diluted (loss) earnings per share$(2.76)$0.71 $(1.98)$1.36 
Antidilutive stock options and restricted stock outstanding382,57979,673384,24441,185
Under the two-class method, earnings available to common shareholders for the period are allocated between common shareholders and participating securities according to dividends declared (or accumulated) and participation rights in undistributed earnings, however the difference in the two-class method was not significant.
Because the Company reported a net loss for the three and six months ended June 30, 2026, all potential common shares were excluded from the computation of diluted earnings per share for those periods because their effect would have been antidilutive.