Earnings (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Weighted Average Number of Shares

The following is a reconciliation of the weighted-average common shares for the basic and diluted earnings (loss) per share computations for the three months ended March 31, 2024 and 2023.


(dollars in thousands, except share and per share data)	Three Months Ended March 31,
	2024		2023
Basic earnings (loss) per share
Net income (loss)	$	5,181	$	(3,017)
Weighted-average common shares	8,679,429		9,024,072
Basic earnings (loss) per common share	$	0.60	$	(0.33)
Diluted earnings per share
Net income (loss)	$	5,181	$	(3,017)
Weighted-average common shares	8,679,429		9,024,072

Dilutive effect of equity compensation	70,868		—
Weighted-average common and incremental shares	8,750,297		9,024,072
Diluted earnings (loss) per common share 1	$	0.59	$	(0.33)

1 Potential dilutive common shares are excluded from the computation of diluted EPS in the periods where the effect would be antidilutive. There were no antidilutive shares for the three months ended March 31, 2024. Since the Company was in a loss position for the three months ended March 31, 2023, basic net loss is the same as diluted net loss per share, as the inclusion of all potential shares of common stock outstanding would have been anti-dilutive.