Three Months Ended March 31,

(dollars in thousands, except for earnings per common share amounts)

2024

2023

Net (loss) income

$

(1,539

)

$

444

Less: convertible preferred stock dividends

—

(57

)

Less: earnings allocated to participating securities

4

(1

)

Net income allocated to common shareholders

$

(1,535

)

$

386

Basic weighted average common shares outstanding - Voting

4,127

3,473

Basic weighted average common shares outstanding - Non-Voting

820

—

Diluted weighted average common shares outstanding - Voting

4,127

3,478

Diluted weighted average common shares outstanding - Non-Voting

820

—

Basic earnings per common share - Voting

$

(0.31

)

$

0.11

Basic earnings per common share - Non-Voting

$

(0.31

)

—

Diluted earnings per common share - Voting

$

(0.31

)

$

0.11

Diluted earnings per common share - Non-Voting

$

(0.31

)

—