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Earning Per Share (Tables)
3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Summary of Composition of Earnings Per Share

The following table sets forth the composition of earnings per share:

 

 

 

Three Months Ended March 31,

 

(In Thousands, except share and per share data)

 

2025

 

 

2024

 

Net income

 

$

15,343

 

 

$

5,726

 

Basic weighted average common shares outstanding

 

 

37,105,480

 

 

 

36,962,005

 

Net effect of dilutive stock options and warrants

 

 

4,693

 

 

 

6,700

 

Net effect of dilutive restricted stock awards and units

 

 

111,766

 

 

 

76,525

 

Diluted weighted average common shares outstanding

 

 

37,221,939

 

 

 

37,045,230

 

Net income per common share:

 

 

 

 

 

 

Basic

 

$

0.41

 

 

$

0.15

 

Diluted

 

$

0.41

 

 

$

0.15

 

Schedule of Dilutive Securities Included in Computation of Earnings Per Share

The following is a summary of securities that could potentially dilute basic earnings per common share in future periods that were included in the computation of diluted earnings per common share in the periods presented.

 

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Stock Options

 

 

24,791

 

 

 

24,691

 

Warrants

 

 

 

 

 

 

Restricted Stock Awards and Units

 

 

393,083

 

 

 

384,724

 

Total dilutive securities

 

 

417,874

 

 

 

409,415

 

 

Schedule of Dilutive Securities Excluded in Computation of Earnings Per Share

The following is a summary of securities that could potentially dilute basic earnings per share in future periods that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented.

 

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Stock Options

 

 

556,400

 

 

 

511,400

 

Warrants

 

 

1,537,484

 

 

 

1,537,484

 

Restricted Stock Awards and Units

 

 

3,000

 

 

 

 

Total anti-dilutive securities

 

 

2,096,884

 

 

 

2,048,884