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Note 5 - Earnings Per Share
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

5. Earnings per Share

 

Basic earnings per share excludes dilution and is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and resulted in the issuance of common stock that then shared in earnings. Restricted stock units (“RSUs”) with anti-dilutive effect were not included in the computation of diluted earnings per share. The following table sets forth earnings per common share calculations:

 

  

Three Months Ended March 31,

 
  

2025

  

2024

 
  

(In thousands, except share and per share data)

 
         

Net income

 $69,506  $71,435 
         

Weighted-average shares:

        

Basic weighted-average number of common shares outstanding

  70,379,835   72,673,974 

Dilutive effect of weighted-average outstanding common share equivalents:

        

RSUs

  299,805   297,183 

Diluted weighted-average number of common shares outstanding

  70,679,640   72,971,157 
         

Average restricted stock units with anti-dilutive effect

  42,622   — 

Earnings per common share:

        

Basic

 $0.99  $0.98 

Diluted

 $0.98  $0.98