v3.26.1
Condensed Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2024   12,904,495      
Beginning balance at Dec. 31, 2024 $ 162,392 $ 13 $ 10,274 $ 152,432 $ (327)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Distributions to members [1] (22,875)     (22,875)  
Total other comprehensive income (loss) 1,314       1,314
Net income 65,590     65,590  
Vesting of restricted stock awards (in shares)   652,057      
Vesting of restricted stock awards 10,433 $ 1 10,432    
Tax withholding on vesting of restricted stock awards (in shares)   234,587      
Tax withholding on vesting of restricted stock awards 3,753   3,753    
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and other offering costs (in shares)   6,250,000      
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and other offering costs $ 88,773 $ 6 88,767    
Ending balance (in shares) at Jun. 30, 2025 19,571,965 19,571,965      
Ending balance at Jun. 30, 2025 $ 301,874 $ 20 105,720 195,147 987
Beginning balance (in shares) at Mar. 31, 2025   12,904,495      
Beginning balance at Mar. 31, 2025 186,058 $ 13 10,274 175,653 118
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Distributions to members [2] (8,000)     (8,000)  
Total other comprehensive income (loss) 869       869
Net income 27,494     27,494  
Vesting of restricted stock awards (in shares)   652,057      
Vesting of restricted stock awards 10,433 $ 1 10,432    
Tax withholding on vesting of restricted stock awards (in shares)   234,587      
Tax withholding on vesting of restricted stock awards 3,753   3,753    
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and other offering costs (in shares)   6,250,000      
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and other offering costs $ 88,773 $ 6 88,767    
Ending balance (in shares) at Jun. 30, 2025 19,571,965 19,571,965      
Ending balance at Jun. 30, 2025 $ 301,874 $ 20 105,720 195,147 987
Beginning balance (in shares) at Dec. 31, 2025   19,579,009      
Beginning balance at Dec. 31, 2025 337,022 $ 20 105,896 229,178 1,928
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Common stock dividends (19,971)     (19,971)  
Total other comprehensive income (loss) (2,348)       (2,348)
Net income 54,056     54,056  
Vesting of restricted stock awards (in shares)   4,944      
Vesting of restricted stock awards 94   94    
Vesting of restricted stock units (in shares)   15,625      
Vesting of restricted stock units 43   43    
Tax withholding on vesting of restricted stock awards (in shares)   6,151      
Tax withholding on vesting of restricted stock awards 120   120    
Stock-based compensation on restricted stock units $ 743   743    
Ending balance (in shares) at Jun. 30, 2026 19,593,427 19,593,427      
Ending balance at Jun. 30, 2026 $ 369,519 $ 20 106,656 263,263 (420)
Beginning balance (in shares) at Mar. 31, 2026   19,581,343      
Beginning balance at Mar. 31, 2026 335,483 $ 20 106,162 229,117 184
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Total other comprehensive income (loss) (604)       (604)
Net income 34,146     34,146  
Vesting of restricted stock awards (in shares)   2,610      
Vesting of restricted stock awards 49   49    
Vesting of restricted stock units (in shares)   15,625      
Vesting of restricted stock units 43   43    
Tax withholding on vesting of restricted stock awards (in shares)   6,151      
Tax withholding on vesting of restricted stock awards 120   120    
Stock-based compensation on restricted stock units $ 522   522    
Ending balance (in shares) at Jun. 30, 2026 19,593,427 19,593,427      
Ending balance at Jun. 30, 2026 $ 369,519 $ 20 $ 106,656 $ 263,263 $ (420)
[1] The distributions were made to members prior to the IPO. See Note 1 — “Nature of Operations and Basis of Presentation” and
Note 11 — “Shareholders’ Equity.”
[2] The distributions were made to members prior to the IPO. See Note 1 — “Nature of Operations and Basis of Presentation” and
Note 11 — “Shareholders’ Equity.”