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 September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Net income	$	9,366	$	21,993	$	41,437	$	56,343
Preferred stock dividends(1)	(3,148)		(3,148)		(9,444)		(9,444)
Participating securities' share in earnings	(398)		(396)		(1,653)		(1,609)


Net income attributable to common stockholders	$	5,820	$	18,449	$	30,340	$	45,290
Weighted average common shares outstanding, basic	76,333,913		78,515,639		77,202,980		79,646,365

Weighted average common shares outstanding, diluted	76,491,356		78,813,809		77,811,788		80,182,854
Earnings per common share, basic(2)	$	0.08	$	0.23	$	0.39	$	0.57
Earnings per common share, diluted(2)	$	0.08	$	0.23	$	0.39	$	0.56

(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 nine months ended September 30, 2026 and 2025.