Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2023

Components of Basic and Diluted Earnings Per Share

The components of basic and diluted earnings per share were as follows for the three-month periods ended March 31, 2023 and 2022:


	Three Months Ended March 31,
(In Thousands, Except Share Data)	2023				2022
	Basic		Diluted		Basic		Diluted
Net income (loss)	$	694	$	694	$	28,349	$	28,349
Weighted-average common shares outstanding	25,220,437		25,220,437		25,100,885		25,100,885
Add dilutive effect of restricted stock unit awards	—		279,678		—		222,220
Add dilutive effect of stock options	—		—		—		—
Weighted-average common shares outstanding	25,220,437		25,500,115		25,100,885		25,323,105
Earnings (loss) per common share	$	0.03	$	0.03	$	1.13	$	1.12
Awards excluded from diluted earnings per share calculation(1)	—		737,629		—		822,375

(1)Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive.