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Earnings Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share
Note 9 – Earnings Per Share


The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2025 and 2024:

    Three Months Ended     Nine Months Ended  
 
September 30
    
September 30
  
(in thousands except per share data)
  
2025
    
2024
    
2025
    
2024
  
Numerator:
                        
Net income
  
$
23,911
    
$
22,142
    
$
70,782
    
$
60,320
  
                                 
Denominator:
                                
Basic earnings per share:
                                
Weighted average shares
    
18,019
      
17,962
      
18,009
      
17,942
  
Diluted earnings per share:
                                
Dilutive effect of equity grants
    
34
      
29
      
28
      
23
  
Adjusted weighted average shares
    
18,053
      
17,991
      
18,037
      
17,965
  
                                 
Earnings per share:
                                
Basic earnings per share
  
$
1.33
    
$
1.23
    
$
3.93
    
$
3.36
  
Diluted earnings per share
    
1.32
      
1.23
      
3.92
      
3.36
  


There were no options to purchase common shares that were excluded from the diluted calculations above for the three and nine months ended September 30, 2025 and 2024. Unvested restricted stock grants were used in the calculation of diluted earnings per share based on the treasury method.