Net Income per Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Net Income per Share

Net Income per Share

The computation of the Company's basic and diluted net income per share is as follows:

		Three Months Ended March 31,
		2024		2023
	(In thousands, except per share data)
Numerator for basic and diluted income per common share:
Net income		$	17,473	$	27,410
Less: Net income allocated to unvested participating restricted stock		(512)		(679)
Net income available to common stockholders - basic		16,961		26,731
Effect of unvested participating restricted stock in two-class calculation		—		1
Net income available to common stockholders - diluted		$	16,961	$	26,732
Denominator:
Weighted average outstanding shares of common stock - basic		14,980		15,304
Dilutive effect of stock options		—		35
Weighted average outstanding shares of common stock - diluted		14,980		15,339
Net income per common share:
Basic		$	1.13	$	1.75
Diluted		$	1.13	$	1.74