SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

Schedule of Changes in Number of Shares Outstanding Under Equity Incentive Plans

Changes in the number of restricted shares outstanding under the Company's equity incentive plans are shown below:

NOTE 10—STOCKHOLDERS' EQUITY (Continued)

	Year Ended December 31,
	2021	2020
Outstanding at beginning of the year	744,145	725,296
Issued	316,774	158,299
Cancelled	(950)	—
Vested	(137,350)	(139,450)
Outstanding at the end of the year	922,619	744,145

Schedule of Compensation Expense Recorded for All Incentive Plans

The following table reflects the compensation expense recorded for all incentive plans (dollars in thousands):

	Year Ended December 31,
	2021		2020
Restricted stock grants	$	2,321	$	1,681
Restricted stock units	620		140
Total compensation	$	2,941	$	1,821

Schedule of Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (dollars in thousands):

	Year Ended December 31,
	2021		2020
Numerator for basic and diluted earnings per share:
Net income (loss)	$	29,250	$	(19,732)
Deduct (earnings) attributable to non-controlling interests	(136)		(130)
Deduct (earnings) loss allocated to unvested restricted stock	(1,412)		1,520
Net income (loss) available for common stockholders: basic and diluted	$	27,702	$	(18,342)
Denominator for basic earnings per share:
Weighted average number of common shares outstanding	17,017,690		17,115,697
Effect of dilutive securities:
RSUs (1)	66,952		—
Denominator for diluted earnings per share:
Weighted average number of shares	17,084,642		17,115,697
Earnings (loss) per common share, basic	$	1.63	$	(1.16)
Earnings (loss) per common share, diluted	$	1.62	$	(1.16)

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(1) For the year ended December 31, 2020, excludes the shares underlying RSUs as their effect would have been anti-dilutive.

Schedule of Equity Distribution Agreements

The following table reflects the sale of shares pursuant to the equity distribution agreements entered into on November 26, 2019, as amended, with three sales agents in an at-the-market offering (dollars in thousands):

	Number of Shares Sold	Average Price		Gross Proceeds		Commissions and Fees		Net Proceeds		Dollar Value of Shares Sold
Aggregate amount available under agreement										$	30,000
2019	111,963	$	18.06	$	2,022	$	31	$	1,991	(2,022)
2020	694,298	$	17.71	12,293		185		$	12,108	(12,293)
2021	529,126	$18.47		9,772		147		$	9,625	(9,772)
	1,335,387			$	24,087	$	363	$	23,724
Remaining amount available under agreement:										$	5,913