XML 67 R52.htm IDEA: XBRL DOCUMENT v3.22.0.1
Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:  

 

 

 

Years Ended December 31,

 

(Dollars in thousands, except share and per share data)

 

2021

 

 

2020

 

 

2019

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

29,354

 

 

$

(21,006

)

 

$

70,015

 

Less: preferred stock distributions

 

 

440

 

 

 

152

 

 

 

—

 

Net income (loss) available to common shareholders

 

$

28,914

 

 

$

(21,158

)

 

$

70,015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares for basic earnings per share

 

 

14,426,739

 

 

 

14,291,265

 

 

 

14,191,756

 

Non-vested restricted stock

 

 

11,016

 

 

 

—

 

 

 

20,492

 

Non-vested restricted stock units

 

 

120,936

 

 

 

—

 

 

 

3,392

 

Options

 

 

105,639

 

 

 

—

 

 

 

119,066

 

Weighted average shares for diluted earnings per share (1)

 

 

14,664,330

 

 

 

14,291,265

 

 

 

14,334,706

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share - Basic

 

$

2.00

 

 

$

(1.48

)

 

$

4.93

 

Earnings per share - Diluted

 

$

1.97

 

 

$

(1.48

)

 

$

4.88

 

 

(1)

For the year ended December 31, 2020, “weighted average shares outstanding – basic” was used to calculate “diluted earnings per share” due to a net loss for this period.