|
9. EARNINGS PER SHARE.
The following tables compute basic and diluted
earnings per share (in thousands, except per share data):
| |
|
Three Months Ended June 30, 2023 |
|
| |
|
Income
Numerator |
|
|
Shares
Denominator |
|
|
Per-Share
Amount |
|
| Net income |
|
$ |
7,595 |
|
|
|
|
|
|
|
|
|
| Less: Preferred stock dividends |
|
|
(315 |
) |
|
|
|
|
|
|
|
|
| Less: Income allocated to participating securities |
|
|
(96 |
) |
|
|
|
|
|
|
|
|
| Basic income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income available to common stockholders |
|
$ |
7,184 |
|
|
|
73,394 |
|
|
$ |
0.10 |
|
| Add: Dilutive instruments |
|
|
— |
|
|
|
709 |
|
|
|
|
|
| Diluted income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income available to common stockholders |
|
$ |
7,184 |
|
|
|
74,103 |
|
|
$ |
0.10 |
|
| |
|
Three Months Ended June 30, 2022 |
|
| |
|
Income
Numerator |
|
|
Shares
Denominator |
|
|
Per-Share
Amount |
|
| Net income |
|
$ |
22,115 |
|
|
|
|
|
|
|
|
|
| Less: Preferred stock dividends |
|
|
(315 |
) |
|
|
|
|
|
|
|
|
| Less: Income allocated to participating securities |
|
|
(284 |
) |
|
|
|
|
|
|
|
|
| Basic income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income available to common stockholders |
|
$ |
21,516 |
|
|
|
72,936 |
|
|
$ |
0.29 |
|
| Add: Dilutive instruments |
|
|
— |
|
|
|
187 |
|
|
|
|
|
| Diluted income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income available to common stockholders |
|
$ |
21,516 |
|
|
|
73,123 |
|
|
$ |
0.29 |
|
| |
|
Six Months Ended June 30, 2023 |
|
| |
|
Loss
Numerator |
|
|
Shares
Denominator |
|
|
Per-Share
Amount |
|
| Net loss |
|
$ |
(5,571 |
) |
|
|
|
|
|
|
|
|
| Less: Preferred stock dividends |
|
|
(627 |
) |
|
|
|
|
|
|
|
|
| Basic and diluted loss per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Loss available to common stockholders |
|
$ |
(6,198 |
) |
|
|
73,603 |
|
|
$ |
(0.08 |
) |
| |
|
Six Months Ended June 30, 2022 |
|
| |
|
Income
Numerator |
|
|
Shares
Denominator |
|
|
Per-Share
Amount |
|
| Net income |
|
$ |
19,513 |
|
|
|
|
|
|
|
|
|
| Less: Preferred stock dividends |
|
|
(627 |
) |
|
|
|
|
|
|
|
|
| Less: Income allocated to participating securities |
|
|
(251 |
) |
|
|
|
|
|
|
|
|
| Basic income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income available to common stockholders |
|
$ |
18,635 |
|
|
|
71,690 |
|
|
$ |
0.26 |
|
| Add: Dilutive instruments |
|
|
— |
|
|
|
268 |
|
|
|
|
|
| Diluted income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income available to common stockholders |
|
$ |
18,635 |
|
|
|
71,958 |
|
|
$ |
0.26 |
|
There were an additional aggregate potentially
dilutive weighted-average shares of 981,000 from convertible securities outstanding for the three and six months ended June 30, 2023.
There were an additional aggregate potentially dilutive weighted-average shares of 964,000 from convertible securities outstanding for
the three and six months ended June 30, 2022. These securities were not considered in calculating diluted net income (loss) per share
for the three and six months ended June 30, 2023 and 2022, as their effect would have been anti-dilutive.
|