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Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Schedule of Cash Dividends Declared The following table details our cash dividends declared and paid in 2024 through the date hereof:
(Dollars in thousands)
Declaration DateRecord DatePayment DatePer Share Amount
Total Declared(1)
February 21, 2024March 15, 2024March 29, 2024$0.3125 $6,600 
May 1, 2024May 24, 2024June 24, 20240.3125 6,624 
July 24, 2024August 19, 2024September 9, 20240.3125 6,780 
Total$0.9375 $20,004 
(1) The total declared reflects the cash dividends declared in relation to common stock, deferred stock units ("DSUs") and unvested RSUs.
Schedule of Basic and Diluted Net Income Per Common Shares
The components of basic and diluted net income per common share were as follows for the periods stated:
For the Three Months Ended September 30,
For the Nine Months Ended September 30,
(in thousands, except for share and per share amounts)2024202320242023
Numerator:
Net income$3,660 $4,451 $11,321 $12,301 
Denominator:
Basic weighted average common shares outstanding20,264,055 19,970,936 20,229,146 19,942,325 
Diluted weighted average common shares outstanding20,523,873 20,304,092 20,534,883 20,308,973 
Basic net income per common share$0.18 $0.22 $0.56 $0.62 
Diluted net income per common share
$0.18 $0.22 $0.55 $0.61 
Schedule of Activities Under Equity Plan
The following table summarizes the activities under the 2020 Equity Plan from January 1, 2024, through September 30, 2024:
 Activity
Total equity securities available at January 1, 2024
1,275,704 
RSU, DSU and restricted stock awarded to eligible employees, net of forfeitures
(305,360)
Total equity securities available at September 30, 2024970,344 
The following table summarizes the activities under the ESPP from January 1, 2024, through September 30, 2024:
 Activity
Total ESPP equity securities available at January 1, 2024109,762 
ESPP common stock purchased by eligible employees(9,933)
Total ESPP equity securities available at September 30, 202499,829 
Summary of Outstanding RSUs
The following table details activities with respect to outstanding RSUs, DSUs, and restricted stock under the 2020 Equity Plan for the nine months ended September 30, 2024:
Shares
Weighted
Average Grant
Date Fair Value per Share
Unvested at January 1, 20241,035,268 $9.12 
Granted309,404 15.47 
Vested(411,646)10.06 
Forfeited(4,044)11.13 
Unvested at September 30, 2024928,982 $10.81 
Schedule of Stock Based Compensation Expense
The following table reflects the items for stock-based compensation expense in the Condensed Consolidated Statements of Operations for the periods stated:
For the Three Months Ended September 30,
For the Nine Months Ended September 30,
(Dollars in thousands)2024202320242023
Performance-based RSUs$459 $332 $1,378 $1,087 
Time-based RSUs, DSUs and restricted stock692 536 2,038 1,613 
ESPP22 16 64 43 
Total stock-based compensation$1,173 $884 $3,480 $2,743