Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table summarizes the average number of common shares and the net income used in the calculation of basic and diluted earnings per common share ($ in thousands, except share and per share amounts):

	Three Months Ended
	March 31,
	2024		2023
Net income	$	30,657	$	34,183
Add: net loss attributable to noncontrolling interests	290		301
Net income attributable to stockholders	30,947		34,484
Less: net income attributable to unvested restricted stock awards	(32)		—
Net income attributable to common stockholders - basic	$	30,915	$	34,484
BASIC:
Weighted average common shares outstanding	43,388,841		43,388,742
DILUTED:
Weighted average common shares outstanding	43,388,841		43,388,742
Stock options	35,709		2,687
Weighted average dilutive common shares outstanding	43,424,550		43,391,429
Earnings per common share - basic	$	0.71	$	0.79
Earnings per common share - diluted	$	0.71	$	0.79
Incremental anti-dilutive shares excluded:
Net share effect of stock options with an exercise price in excess of the average market price for our common shares	492,675		728,524
Regular dividends declared per common share	$	0.90	$	0.90