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Earnings Per Share

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Earnings Per Share

Note 2. Earnings Per Share

Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding. Diluted earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding and dilutive common share equivalents using the treasury stock method. Dilutive common share equivalents include common shares issuable upon exercise of outstanding stock options and restricted stock. The effect from the stock options and restricted stock on incremental shares from the assumed conversions for net income per share-basic and net income per share-diluted are presented below. There were no antidilutive shares for the three and nine months ended September 30, 2025, and 2024, respectively.

The following is a summary of the basic and diluted earnings per share computation (dollars in thousands, except share and per share data):


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2025			2024			2025			2024
Basic earnings per share computation:
Net income available to common shareholders		$	13,686		$	9,140		$	36,644		$	26,500
Average common shares outstanding – basic			16,781,236			16,726,658			16,775,970			16,782,200
Basic earnings per share		$	0.82		$	0.55		$	2.18		$	1.58
Diluted earnings per share computation:
Net income available to common shareholders		$	13,686		$	9,140		$	36,644		$	26,500
Average common shares outstanding – basic			16,781,236			16,726,658			16,775,970			16,782,200
Incremental shares from assumed conversions:
Stock options and restricted stock			127,684			113,340			110,183			92,116
Average common shares outstanding - diluted			16,908,920			16,839,998			16,886,153			16,874,316
Diluted earnings per common share		$	0.81		$	0.54		$	2.17		$	1.57