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Note 5 - Earnings Per Share

9 Months Ended

Sep. 30, 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 September 30,*								*Nine Months Ended September 30,*
		*2025*				*2024*				*2025*				*2024*
		($In thousands, except share and per share data)

Net income		$	77,651			$	67,514			$	224,607			$	205,778

Weighted-average shares:
Basic weighted-average number of common shares outstanding			68,727,390				71,786,624				69,692,964				72,370,995
Dilutive effect of weighted-average outstanding common share equivalents:
RSUs			263,258				245,832				253,913				236,555
Diluted weighted-average number of common shares outstanding			68,990,648				72,032,456				69,946,877				72,607,550

Average restricted stock units with anti-dilutive effect			546				309				16,387				11,464
Earnings per common share:
Basic		$	1.13			$	0.94			$	3.22			$	2.84
Diluted		$	1.13			$	0.94			$	3.21			$	2.83