Three months ended September 30,

Nine months ended September 30,

2022

2021

2022

2021

Earnings (loss) per common share - basic

Net income (loss)

$

7,304

$

(9,984

)

$

26,811

$

1,064

Less: income (loss) allocated to participating securities

(5

)

23

(27

)

(2

)

Net income (loss) allocated to common shareholders

7,299

(9,961

)

26,784

1,062

Weighted average basic shares outstanding

9,965,374

10,398,787

10,148,630

10,440,638

Basic earnings (loss) per common share

$

0.74

$

(0.95

)

$

2.64

$

0.10

Earnings (loss) per common share - diluted

Net income (loss) allocated to common shareholders

$

7,299

$

(9,961

)

$

26,784

$

1,062

Weighted average basic shares outstanding

9,965,374

10,398,787

10,148,630

10,440,638

Dilutive effect of securities

120,875

—

80,540

88,226

Total weighted average diluted shares outstanding

10,086,249

10,398,787

10,229,170

10,528,864

Diluted earnings (loss) per common share

$

0.73

$

(0.95

)

$

2.62

$

0.09