Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2022

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:

	Quarters Ended March 31,
(Dollars in thousands, except share and per share data)	2022			2021
Numerator:
Net income (loss)	$	(14,773	)	$	5,517
Less: preferred stock distributions		110			110
Net income (loss) available to common shareholders	$	(14,883	)	$	5,407
Denominator:
Weighted average shares for basic earnings per share		14,514,950			14,380,423
Non-vested restricted stock		—			10,065
Non-vested restricted stock units		—			137,839
Options		—			112,331
Weighted average shares for diluted earnings per share (1)		14,514,950			14,640,658
Earnings per share - Basic	$	(1.03	)	$	0.38
Earnings per share - Diluted	$	(1.03	)	$	0.37

(1) For the quarter ended March 31, 2022, “weighted average shares outstanding – basic” was used to calculate “diluted earnings per share” due to a net loss for the period.