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Shareholders' Equity and Earnings Per Common Share
 3 Months Ended
Mar. 31, 2026
Stockholders' Equity Note [Abstract]  
Shareholders' Equity and Earnings Per Common Share Shareholders’ Equity and Earnings Per Common Share
On December 16, 2025, our Board of Directors authorized a share repurchase plan (the “Repurchase Plan”) to buy back up to 1,100,000 shares of our outstanding common stock through December 31, 2026. Shares would be repurchased through open market transactions, though we could execute repurchases through other means, such as privately negotiated transactions. The timing and amount of any share repurchases will depend on a variety of factors, including, among others, securities law restrictions, the trading price of our common stock, regulatory requirements, potential alternative uses for capital, and our financial performance. During the three month period ended March 31, 2026 no shares of common stock were repurchased. During the three month period ended March 31, 2025 there were 1,093 shares of common stock repurchased through open market transactions for an aggregate purchase price of $0.03 million.
A reconciliation of basic and diluted net income per common share follows:
Three Months Ended
March 31,
20262025
(In thousands, except
per share data)
Net income$16,875 $15,590 
Weighted average shares outstanding (1)20,575 20,943 
Stock units for deferred compensation plan for non-employee directors179 177 
Performance share units25 28 
Effect of stock options1 2 
Weighted average shares outstanding for calculation of diluted earnings per share20,780 21,150 
Net income per common share
Basic (1)$0.82 $0.74 
Diluted$0.81 $0.74 
(1)Basic net income per common share includes weighted average common shares outstanding during the period.
Weighted average stock options outstanding that were not considered in computing diluted net income per common share because they were anti-dilutive were zero for the three month periods ended March 31, 2026 and 2025, respectively.