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Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Summary of Activity in Stockholders' Equity

The following table summarizes the quarterly activity in Stockholders’ Equity for the periods ended June 30, 2020 and 2019, respectively (amounts in thousands, except share data):

 

 

 

 

Common Stock

 

 

Additional

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

Shares

Issued

 

 

Amount

 

 

Paid-in

Capital

 

 

Treasury

Stock

 

 

Retained Earnings

 

 

Stockholders’

Equity

 

Balances at December 31, 2019

 

 

39,921,838

 

 

$

398

 

 

$

235,844

 

 

$

(64,783

)

 

$

136,060

 

 

$

307,519

 

Stock-based compensation

 

 

—

 

 

 

—

 

 

 

1,652

 

 

 

—

 

 

 

—

 

 

 

1,652

 

Cash dividends declared on common stock ($0.275 per share)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(9,789

)

 

 

(9,789

)

Issuance of common stock, net of restricted stock forfeitures

 

 

98,451

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1

 

Repurchase of 26,392 shares of restricted common stock

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(470

)

 

 

—

 

 

 

(470

)

Net loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(36,968

)

 

 

(36,968

)

Balances at March 31, 2020

 

 

40,020,289

 

 

 

399

 

 

 

237,496

 

 

 

(65,253

)

 

 

89,303

 

 

 

261,945

 

Stock-based compensation

 

 

—

 

 

 

—

 

 

 

1,004

 

 

 

—

 

 

 

—

 

 

 

1,004

 

Cash dividends declared on common stock ($0.275 per share)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(9,896

)

 

 

(9,896

)

Restricted stock forfeitures

 

 

(6,732

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net income

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

8,815

 

 

 

8,815

 

Balances at June 30, 2020

 

$

40,013,557

 

 

$

399

 

 

$

238,500

 

 

$

(65,253

)

 

$

88,222

 

 

$

261,868

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances at December 31, 2018

 

 

39,748,562

 

 

$

396

 

 

$

231,174

 

 

$

(63,099

)

 

$

88,332

 

 

$

256,803

 

Stock-based compensation

 

 

—

 

 

 

—

 

 

 

1,188

 

 

 

—

 

 

 

—

 

 

 

1,188

 

Cash dividends declared on common stock ($0.275 per share)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(9,793

)

 

 

(9,793

)

Issuance of common stock, net of restricted stock forfeitures

 

 

59,510

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1

 

Repurchase of 14,272 shares of restricted common stock

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(387

)

 

 

—

 

 

 

(387

)

Cumulative effect adjustment pursuant to the adoption of ASC 842

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(56

)

 

 

(56

)

Net income

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

14,243

 

 

 

14,243

 

Balances at March 31, 2019

 

 

39,808,072

 

 

 

397

 

 

 

232,362

 

 

 

(63,486

)

 

 

92,726

 

 

 

261,999

 

Stock-based compensation

 

 

—

 

 

 

—

 

 

 

835

 

 

 

—

 

 

 

—

 

 

 

835

 

Cash dividends declared on common stock ($0.275 per share)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(9,857

)

 

 

(9,857

)

Restricted stock forfeitures

 

 

(2,666

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net income

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

22,614

 

 

 

22,614

 

Balances at June 30, 2019

 

 

39,805,406

 

 

$

397

 

 

$

233,197

 

 

$

(63,486

)

 

$

105,483

 

 

$

275,591