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Earning Per Share (Tables)
9 Months Ended
Sep. 30, 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 September 30,

 

 

Nine Months Ended September 30,

 

(In Thousands, except share and per share data)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Net income

 

$

7,839

 

 

$

7,095

 

 

$

30,569

 

 

$

18,625

 

Basic weighted average common shares outstanding

 

 

37,192,313

 

 

 

36,983,637

 

 

 

37,146,280

 

 

 

36,972,127

 

Net effect of dilutive stock options and warrants

 

 

2,409

 

 

 

2,734

 

 

 

3,370

 

 

 

4,380

 

Net effect of dilutive restricted stock awards and units

 

 

140,924

 

 

 

103,740

 

 

 

108,181

 

 

 

85,005

 

Diluted weighted average common shares outstanding

 

 

37,335,646

 

 

 

37,090,111

 

 

 

37,257,831

 

 

 

37,061,512

 

Net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.21

 

 

$

0.19

 

 

$

0.82

 

 

$

0.50

 

Diluted

 

$

0.21

 

 

$

0.19

 

 

$

0.82

 

 

$

0.50

 

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 September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Stock Options

 

 

14,914

 

 

 

24,691

 

 

 

14,914

 

 

 

116,191

 

Warrants

 

 

 

 

 

 

 

 

 

 

 

 

Restricted Stock Awards and Units

 

 

521,036

 

 

 

487,324

 

 

 

320,636

 

 

 

487,324

 

Total dilutive securities

 

 

535,950

 

 

 

512,015

 

 

 

335,550

 

 

 

603,515

 

 

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 September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Stock Options

 

 

537,200

 

 

 

585,700

 

 

 

537,200

 

 

 

494,200

 

Warrants

 

 

1,537,484

 

 

 

1,537,484

 

 

 

1,537,484

 

 

 

1,537,484

 

Restricted Stock Awards and Units

 

 

 

 

 

 

 

 

200,400

 

 

 

 

Total anti-dilutive securities

 

 

2,074,684

 

 

 

2,123,184

 

 

 

2,275,084

 

 

 

2,031,684