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Earnings Per Share
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 12 – EARNINGS PER SHARE

Earnings per share (“EPS”), including the dilutive effect of stock awards for each period reported is summarized below:

 

 

 

Three Months Ended

 

 

 

March 31,

 

(in thousands, except per share data)

 

2025

 

 

2024

 

Net Income

 

$

26,851

 

 

$

27,317

 

 

 

 

 

 

 

 

Weighted-average number of basic shares outstanding during the period

 

 

18,506

 

 

 

18,757

 

Dilutive effect of stock awards

 

 

107

 

 

 

189

 

Weighted-average number of diluted shares outstanding during the period

 

 

18,613

 

 

 

18,946

 

 

 

 

 

 

 

 

Basic EPS

 

$

1.45

 

 

$

1.46

 

Diluted EPS

 

$

1.44

 

 

$

1.44

 

A total of 79,863 shares of restricted stock awards were excluded from the calculation of EPS for the three months ended March 31, 2025 because they were anti-dilutive. There were 10,901 shares excluded for the three months ended March 31, 2024.