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Published: 2024-07-31 16:21:29 ET
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6-K 1 d11434420_6k.htm
FORM 6-K

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2024
Commission File Number: 001-32458

DIANA SHIPPING INC.
(Translation of registrant's name into English)
Pendelis 16, 175 64 Palaio Faliro, Athens, Greece
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [X] Form 40-F [ ]














INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached to this Report on Form 6-K as Exhibit 99.1 is a press release dated July 31, 2024 of Diana Shipping Inc. (the "Company"), announcing the Company’s financial results for the second quarter ended June 30, 2024.

The information contained in this Report on Form 6-K is hereby incorporated by reference into the Company's registration statements on Form F-3 (File Nos. 333-256791 and 333-266999) that were filed with the U.S. Securities and Exchange Commission and became effective on July 9, 2021 and September 16, 2022, respectively.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


 
DIANA SHIPPING INC.
 
(registrant)
 
 
 
 
Dated: July 31, 2024
By:
/s/ Ioannis Zafirakis
 
 
Ioannis Zafirakis
 
 
Chief Financial Officer
 
 
 
 
 
 




Exhibit 99.1

 
Corporate Contact:
 
Ioannis Zafirakis
 
Director, Chief Financial Officer, Chief Strategy Officer, Treasurer and Secretary
 
Telephone: + 30-210-9470100
 
Email: izafirakis@dianashippinginc.com
 
Website: www.dianashippinginc.com
 
X: @Dianaship
For Immediate Release
  
 
Investor and Media Relations:
 
Edward Nebb
 
Comm-Counsellors, LLC
 
Telephone: + 1-203-972-8350
 
Email: enebb@optonline.net
   



DIANA SHIPPING INC. REPORTS FINANCIAL RESULTS
FOR THE SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 2024; DECLARES CASH
DIVIDEND OF $0.075 PER COMMON SHARE FOR THE SECOND QUARTER 2024


ATHENS, GREECE, July 31, 2024 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today reported a net loss of $2.8 million and a net loss attributed to common stockholders of $4.2 million for the second quarter of 2024. This compares to net income of $10.4 million and net income attributed to common stockholders of $8.9 million for the second quarter of 2023. Loss per share for the second quarter of 2024 was $0.04 basic and diluted, compared to earnings per share of $0.09 basic and diluted in the same quarter in 2023.

Time charter revenues were $56.0 million for the second quarter of 2024, compared to $67.4 million for the same quarter of 2023. The decrease in time charter revenues, compared to the same quarter last year, was due to decreased average charter rates and ownership days.

Net loss for the six months ended June 30, 2024, amounted to $0.7 million and net loss attributed to common stockholders amounted to $3.6 million. This compares to net income of $33.1 million and net income attributed to common stockholders of $30.2 million, for the same period in 2023. Time charter revenues for the six months ended June 30, 2024, were $113.6 million, compared to $140.0 million in the same period of 2023. Loss per share was $0.03 basic and diluted, compared to earnings per share of $0.31 basic and $0.30 diluted in the six months ended June 30, 2023.

Dividend Declaration

The Company has declared a cash dividend on its common stock of $0.075 per share, based on the Company’s results of operations during the second quarter ended June 30, 2024. The cash dividend will be payable on August 30, 2024 to all common shareholders of record as of August 15, 2024. The Company currently has 125,116,865 common shares issued and outstanding. As of July 29, 2024, there were 6,339,423 warrants exercised.



Fleet Employment (As of July 30, 2024)
                   
 
VESSEL
  
SISTER SHIPS*
GROSS RATE (USD PER DAY)
COM**
CHARTERERS
DELIVERY DATE TO CHARTERERS***
REDELIVERY DATE TO OWNERS****
NOTES
 
BUILT DWT
  
9 Ultramax Bulk Carriers
1
DSI Phoenix
  
A
13,250
5.00%
ASL Bulk Marine Limited
4-Nov-22
6-May-24
  
 
2017 60,456
    
16,500
5.00%
Bulk Trading SA
6-May-24
1/Aug/2025 - 30/Sep/2025
  
2
DSI Pollux
  
A
14,000
4.75%
Cargill Ocean Transportation (Singapore) Pte. Ltd.
28-Dec-23
20/Aug/2025 - 20/Oct/2025
  
 
2015 60,446
              
3
DSI Pyxis
  
A
14,250
5.00%
ASL Bulk Marine Limited
24-Sep-23
10/Oct/2024 - 10/Dec/2024
  
 
2018 60,362
              
4
DSI Polaris
  
A
13,100
5.00%
ASL Bulk Marine Limited
12-Nov-22
20-Jul-24
  
 
2018 60,404
    
15,400
5.00%
Stone Shipping Ltd
20-Jul-24
1/Jun/2025 - 15/Aug/2025
  
5
DSI Pegasus
  
A
14,000
5.00%
Reachy Shipping (SGP) Pte. Ltd.
7-Dec-22
10/Aug/2024 - 15/Sep/2024
1
 
2015 60,508
              
6
DSI Aquarius
  
B
14,500
5.00%
Stone Shipping Ltd
18-Jan-24
1/Dec/2024 - 1/Feb/2025
  
 
2016 60,309
              
7
DSI Aquila
  
B
12,500
5.00%
Western Bulk Carriers AS
11-Nov-23
10/Nov/2024 - 10/Jan/2025
  
 
2015 60,309
              
8
DSI Altair
  
B
13,800
5.00%
Western Bulk Carriers AS
23-Jun-23
10/Aug/2024 - 10/Oct/2024
  
 
2016 60,309
              
9
DSI Andromeda
  
B
13,500
5.00%
Bunge SA, Geneva
27-Nov-23
20/Feb/2025 - 20/Apr/2025
2
 
2016 60,309
              
6 Panamax Bulk Carriers
10
LETO
    
14,500
4.75%
Cargill International S.A., Geneva
29-Jan-23
3-May-24
  
 
2010 81,297
    
16,000
5.00%
ASL Bulk Shipping Limited
3-May-24
1/Mar/2025 - 30/Apr/2025
  
11
SELINA
  
C
12,000
4.75%
Cargill International S.A., Geneva
20-May-23
15/Sep/2024 - 15/Nov/2024
  
 
2010 75,700
              
12
MAERA
  
C
13,750
5.00%
ST Shipping and Transport Pte. Ltd.
29-Jan-24
20/Nov/2024 - 20/Jan/2025
  
 
2013 75,403
              
13
ISMENE
    
12,650
5.00%
Paralos Shipping Pte., Ltd.
13-Sep-23
10/Mar/2025 - 10/Jun/2025
  
 
2013 77,901
              
14
CRYSTALIA
  
D
11,250
5.00%
Reachy Shipping (SGP) Pte. Ltd.
6-Sep-23
13-Apr-24
3
 
2014 77,525
    
13,900
5.00%
Louis Dreyfus Company Freight Asia Pte. Ltd.
4-May-24
4/Feb/2026 - 4/Jun/2026
15
ATALANDI
  
D
13,250
4.75%
Aquavita International S.A.
15-Feb-23
29-Apr-24
  
       
15,800
5.00%
Quadra Commodities SA
28-May-24
20-Jul-24
4,5
 
2014 77,529
    
14,600
4.75%
Cargill International SA, Geveva
20-Jul-24
1/Jun/2025 - 31/Jul/2025
  
6 Kamsarmax Bulk Carriers
16
MAIA
  
E
13,500
5.00%
ST Shipping and Transport Pte. Ltd.
23-Sep-23
10/Aug/2024 - 20/Aug/2024
1
 
2009 82,193
              
17
MYRSINI
  
E
15,000
5.00%
Salanc Pte. Ltd.
22-Nov-22
25-Jun-24
  
 
2010 82,117
    
17,100
5.00%
Cobelfret S.A. Luxembourg
25-Jun-24
1/Feb/2025 - 25/Mar/2025
  
18
MEDUSA
  
E
14,250
5.00%
ASL Bulk Shipping Limited
14-May-23
10/Feb/2025 - 15/Apr/2025
  
 
2010 82,194
              

19
MYRTO
  
E
12,650
5.00%
Cobelfret S.A., Luxemburg
15-Jul-23
1/Nov/2024 - 15/Jan/2025
  
 
2013 82,131
              
20
ASTARTE
    
15,000
5.00%
Reachy Shipping (SGP) Pte. Ltd.
29-Apr-23
1/Aug/2024 - 1/Oct/2024
  
 
2013 81,513
              
21
LEONIDAS P. C.
    
17,000
5.00%
Ming Wah International Shipping Company Limited
22-Feb-24
20/Aug/2025 - 20/Oct/2025
  
 
2011 82,165
              
5 Post-Panamax Bulk Carriers
22
ALCMENE
    
16,000
5.00%
Triangle Merchant Maritime Co., Limited
24-Mar-24
1-Jun-24
  
       
13,150
  
1-Jun-24
27-Jul-24
6
 
2010 93,193
    
13,350
5.00%
China Steel Express Corporation
27-Jul-24
10-Sep-24
7,8
23
AMPHITRITE
  
F
15,000
5.00%
Cobelfret S.A., Luxembourg
13-Jan-24
15/Nov/2024 - 15/Jan/2025
9
 
2012 98,697
              
24
POLYMNIA
  
F
15,000
5.00%
Cobelfret S.A., Luxemburg
14-Jan-23
8-Jun-24
10,11
 
2012 98,704
    
17,500
5.00%
Reachy Shipping (SGP) Pte. Ltd.
8-Jun-24
1/Aug/2025 - 30/Sept/2025
25
ELECTRA
  
G
14,500
5.00%
Cobelfret S.A., Luxemburg
13-Apr-23
3-Jun-24
  
 
2013 87,150
    
14,000
4.75%
Aquavita International S.A.
3-Jun-24
15/Oct/2025 - 31/Dec/2025
  
26
PHAIDRA
  
G
12,250
4.75%
Aquavita International S.A.
9-May-23
1/Sep/2024 - 15/Nov/2024
  
 
2013 87,146
              
9 Capesize Bulk Carriers
27
SEMIRIO
  
H
14,150
5.00%
Solebay Shipping Cape Company Limited, Hong Kong
18-Aug-23
20/Nov/2024 - 30/Jan/2025
  
 
2007 174,261
              
28
HOUSTON
  
H
13,000
5.00%
EGPN Bulk Carrier Co., Limited
21-Nov-22
10/Aug/2024 - 31/Aug/2024
1,12
 
2009 177,729
              
29
NEW YORK
  
H
16,000
5.00%
SwissMarine Pte. Ltd., Singapore
11-Jun-23
1/Oct/2024 - 7/Dec/2024
  
 
2010 177,773
              
30
SEATTLE
  
I
17,500
5.00%
Solebay Shipping Cape Company Limited, Hong Kong
1-Oct-23
15/Jul/2025 - 30/Sep/2025
  
 
2011 179,362
              
31
P. S. PALIOS
  
I
31,000
5.00%
Classic Maritime Inc.
11-Jun-22
7-May-24
  
 
2013 179,134
    
27,150
5.00%
Bohai Shipping (HEBEI) Co., Ltd
7-May-24
1/Nov/2025 - 31/Dec/2025
  
32
G. P. ZAFIRAKIS
  
J
17,000
5.00%
Solebay Shipping Cape Company Limited, Hong Kong
12-Jan-23
7-Aug-24
1
 
2014 179,492
              
33
SANTA BARBARA
  
J
21,250
5.00%
Smart Gain Shipping Co., Limited
7-May-23
10/Oct/2024 - 10/Dec/2024
13
 
2015 179,426
              
34
NEW ORLEANS
    
20,000
5.00%
Kawasaki Kisen Kaisha, Ltd.
7-Dec-23
15/Aug/2025 - 31/Oct/2025
13,14
 
2015 180,960
              
35
FLORIDA
    
25,900
5.00%
Bunge S.A., Geneva
29-Mar-22
29/Jan/2027 - 29/May/2027
2
 
2022 182,063
              
4 Newcastlemax Bulk Carriers
36
LOS ANGELES
  
K
17,700
5.00%
Nippon Yusen Kabushiki Kaisha, Tokyo
21-Jan-23
20-Jul-24
  
 
2012 206,104
    
28,700
20-Jul-24
1/Oct/2025 - 15/Dec/2025
  
37
PHILADELPHIA
  
K
22,500
5.00%
Nippon Yusen Kabushiki Kaisha, Tokyo
4-Feb-24
20/Apr/2025 - 20/Jul/2025
  
 
2012 206,040
              
38
SAN FRANCISCO
  
L
22,000
5.00%
SwissMarine Pte. Ltd., Singapore
18-Feb-23
5/Jan/2025 - 5/Mar/2025
  
 
2017 208,006
              
39
NEWPORT NEWS
  
L
20,000
5.00%
Nippon Yusen Kabushiki Kaisha, Tokyo
20-Sep-23
10/Mar/2025 - 10/Jun/2025
  
 
2017 208,021
              
                   
                   
Each dry bulk carrier is a “sister ship”, or closely similar, to other dry bulk carriers that have the same letter.
** Total commission percentage paid to third parties.
*** In case of newly acquired vessel with time charter attached, this date refers to the expected/actual date of delivery of the vessel to the Company.
**** Range of redelivery dates, with the actual date of redelivery being at the Charterers’ option, but subject to the terms, conditions, and exceptions of the particular charterparty.
 
1Based on latest information.
2Bareboat chartered-in for a period of ten years.
3Vessel on scheduled drydocking during the period from April 13, 2024 to May 4, 2024.
4Vessel on scheduled drydocking during the period from April 29, 2024 to May 28, 2024.
5Redelivery date based on an estimated time charter trip duration of about 63 days.
6Redelivery date based on an estimated time charter trip duration of about 70 days.
7Estimated delivery date.
8Redelivery date based on an estimated time charter trip duration of about 45 days.
9The charter rate will be US$12,250 per day for the first 30 days of the charter period.
10The charter rate was US$10,000 per day for the first 30 days of the charter period.
11Charterers will compensate the Owners at a rate of US$20,000 per day for the excess period commencing from May 31, 2024 until the actual redelivery date.
12Vessel has been sold and it is expected to be delivered to her new Owners by latest September 16, 2024.
13Bareboat chartered-in for a period of eight years.
14Vessel off hire for 7.43 days.


Summary of Selected Financial & Other Data (unaudited)
              
   
Three months ended June 30,
    
Six months ended June 30,
  
   
2024
    
2023
    
2024
    
2023
  
                         
STATEMENT OF INCOME DATA (in thousands of US Dollars)
  
Time charter revenues
  
$
56,000
    
$
67,379
    
$
113,648
    
$
140,021
  
Voyage expenses
    
3,145
      
3,553
      
6,413
      
7,364
  
Vessel operating expenses
    
21,269
      
22,599
      
42,133
      
42,763
  
Net income/(loss)
    
(2,764
)
    
10,364
      
(706
)
    
33,077
  
Net income/(loss) attributable to common stockholders
    
(4,206
)
    
8,922
      
(3,590
)
    
30,193
  
FLEET DATA
      
Average number of vessels
    
39.0
      
41.0
      
39.4
      
41.3
  
Number of vessels
    
39.0
      
41.0
      
39.0
      
41.0
  
Weighted average age of vessels
    
10.9
      
10.2
      
10.9
      
10.2
  
Ownership days
    
3,549
      
3,731
      
7,162
      
7,468
  
Available days
    
3,499
      
3,687
      
7,112
      
7,407
  
Operating days
    
3,496
      
3,678
      
7,078
      
7,377
  
Fleet utilization
    
99.9
%
    
99.8
%
    
99.5
%
    
99.6
%
AVERAGE DAILY RESULTS
      
Time charter equivalent (TCE) rate (1)
  
$
15,106
    
$
17,311
    
$
15,078
    
$
17,910
  
Daily vessel operating expenses (2)
  
$
5,993
    
$
6,057
    
$
5,883
    
$
5,726
  
                                 

Non-GAAP Measures

(1)
Time charter equivalent rates, or TCE rates, are defined as our time charter revenues less voyage expenses during a period divided by the number of available days during the period, which is consistent with industry standards.  Voyage expenses include port charges, bunker (fuel) expenses or gain, canal charges and commissions.  TCE is a non-GAAP measure.  TCE rate is a standard shipping industry performance measure used primarily to compare daily earnings generated by vessels on time charters with daily earnings generated by vessels on voyage charters, because charter hire rates for vessels on voyage charters are generally not expressed in per day amounts while charter hire rates for vessels on time charters are generally expressed in such amounts.

(2)
Daily vessel operating expenses, which include crew wages and related costs, the cost of insurance, expenses relating to repairs and maintenance, the costs of spares and consumable stores, tonnage taxes and other miscellaneous expenses, are calculated by dividing vessel operating expenses by ownership days for the relevant period.

Conference Call and Webcast Information

The Company’s management will conduct a conference call and simultaneous Internet webcast to review these results at 9:00 A.M. (Eastern Time) on Wednesday, July 31, 2024.

Investors may access the webcast by visiting the Company’s website at www.dianashippinginc.com, and clicking on the webcast link. An accompanying investor presentation also will be available via the webcast link and on the Company’s website. The conference call also may be accessed by telephone by dialing 1-877-407-8291 (for U.S.-based callers) or 1-201-689-8345 (for international callers) and asking the operator for the Diana Shipping Inc. conference call.

A replay of the webcast will be available soon after the completion of the call and will be accessible for 30 days on www.dianashippinginc.com. A telephone replay also will be available for 30 days by dialing 1-877-660-6853 (for U.S.-based callers) or 1-201-612-7415 (for international callers) and providing the Replay ID number 13747673.

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership and bareboat charter-in of dry bulk vessels. The Company’s vessels are employed primarily on short to medium-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, including risks associated with the continuing conflict between Russia and Ukraine and related sanctions, potential disruption of shipping routes due to accidents or political events, including the escalation of the conflict in the Middle East, vessel breakdowns and instances of off-hires and other factors. Please see the Company’s filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

(See financial tables attached)



DIANA SHIPPING INC.
  
FINANCIAL TABLES
  
Expressed in thousands of U.S. Dollars, except share and per share data
  
                         
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)
  
   
Three months ended June 30,
    
Six months June 30,
  
   
2024
    
2023
    
2024
    
2023
  
REVENUES:
                        
Time charter revenues
  
$
56,000
    
$
67,379
    
$
113,648
    
$
140,021
  
OPERATING EXPENSES
                                
Voyage expenses
    
3,145
      
3,553
      
6,413
      
7,364
  
Vessel operating expenses
    
21,269
      
22,599
      
42,133
      
42,763
  
Depreciation and amortization of deferred charges
    
11,004
      
13,407
      
22,106
      
26,661
  
General and administrative expenses
    
8,197
      
8,013
      
16,729
      
15,695
  
Management fees to a related party
    
333
      
333
      
666
      
647
  
Gain on sale of vessels
    
-
      
-
      
(1,572
)
    
(4,995
)
Other operating income/ (loss)
    
(104
)
    
20
      
(389
)
    
(189
)
Operating income, total
  
$
12,156
    
$
19,454
    
$
27,562
    
$
52,075
  
                                 
OTHER INCOME / (EXPENSES):
                                
Interest expense and finance costs
    
(11,594
)
    
(12,187
)
    
(23,650
)
    
(23,845
)
Interest and other income
    
2,041
      
1,972
      
3,776
      
3,746
  
Gain on derivative instruments
    
23
      
-
      
361
      
-
  
Loss on extinguishment of debt
    
-
      
(704
)
    
-
      
(748
)
Gain on deconsolidation of subsidiary
    
-
      
844
      
-
      
844
  
Gain/(loss) on investments
    
(3,467
)
    
761
      
(1,751
)
    
761
  
Loss on warrants
    
(2,090
)
    
-
      
(6,773
)
    
-
  
Gain/(loss) from equity method investments
    
167
      
224
      
(231
)
    
244
  
Total other expenses, net
  
$
(14,920
)
  
$
(9,090
)
  
$
(28,268
)
  
$
(18,998
)
                                 
Net comprehensive income/(loss)
  
$
(2,764
)
  
$
10,364
    
$
(706
)
  
$
33,077
  
Dividends on series B preferred shares
    
(1,442
)
    
(1,442
)
    
(2,884
)
    
(2,884
)
                                 
Net comprehensive income/(loss) attributable to common stockholders
    
(4,206
)
    
8,922
      
(3,590
)
    
30,193
  
                                 
Earnings/(loss) per common share, basic
  
$
(0.04
)
  
$
0.09
    
$
(0.03
)
  
$
0.31
  
                                 
Earnings/(loss) per common share, diluted
  
$
(0.04
)
  
$
0.09
    
$
(0.03
)
  
$
0.30
  
Weighted average number of common shares outstanding, basic
    
115,236,048
      
99,643,396
      
112,818,414
      
98,489,613
  
Weighted average number of common shares outstanding, diluted
    
115,236,048
      
101,058,849
      
112,818,414
      
99,762,411
  



CONDENSED CONSOLIDATED BALANCE SHEET DATA
        
(in thousands of U.S. Dollars)
        
             
   
June 30, 2024
    
December 31, 2023*
  
ASSETS
  
(unaudited)
        
             
Cash, cash equivalents, restricted cash and time deposits
  
$
140,041
**
  
$
161,592
**
Investments in equity securities
    
-
      
20,729
  
Other current assets
    
49,194
      
19,900
  
Fixed assets
    
895,139
      
924,474
  
Investments in related parties and equity method investments
    
49,177
      
24,087
  
Other noncurrent assets
    
14,948
      
15,628
  
Total assets
  
$
1,148,499
    
$
1,166,410
  
                 
LIABILITIES AND STOCKHOLDERS' EQUITY
                
                 
Long-term debt and finance liabilities, net of deferred financing costs
  
$
613,487
    
$
642,772
  
Other liabilities
    
35,150
      
34,617
  
Total stockholders' equity
    
499,862
      
489,021
  
 Total liabilities and stockholders' equity
  
$
1,148,499
    
$
1,166,410
  

*
The balance sheet data has been derived from the audited consolidated financial statements at that date.
**
Includes time deposits of $20 million and $40 million as of June 30, 2024 and December 31, 2023, respectively.


OTHER FINANCIAL DATA (unaudited)
              
   
Three months ended June 30,
    
Six months ended June 30,
  
   
2024
    
2023
    
2024
    
2023
  
                         
Net cash provided by operating activities
  
$
11,218
    
$
19,359
    
$
49,183
    
$
52,555
  
Net cash provided by/(used in) investing activities
    
7,425
      
16,517
      
(13,624
)
    
5,872
  
Net cash provided by/(used in) financing activities
  
$
(20,576
)
  
$
38,561
    
$
(37,110
)
  
$
(12,238
)