Schedule of Changes in Non-Vested Performance-Based Shares

Changes in non-vested shares dependent on performance criteria for the six months ended June 30, 2024 were as follows:


				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Balance, January 1, 2024		176,364		$	32.40
Granted during 2024		4,705			31.36
Vested during 2024 (1)		(45,592	)		31.36
Forfeited during 2024		—			—
Balance, June 30, 2024		135,477		$	32.71

(1) Includes 45,592 shares that settled in cash.

Schedule of Calculation of Basic and Diluted Earnings per Share

The following is a reconciliation of the calculation of basic and diluted earnings per share. Basic net income per share is calculated by dividing net income available to shareholders by the weighted average shares outstanding during the reporting period. Diluted net income per share is computed similarly to that of basic net income per share, except that the denominator is increased to include the number of additional shares that would have been outstanding utilizing the Treasury Stock Method if all shares underlying potentially dilutive stock options were issued and all shares of restricted stock, stock warrants or restricted stock units were to vest during the reporting period.


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands, except per share data)	2024		2023		2024		2023
Net income available to common shareholders	$	7,530	$	13,145	$	16,161	$	31,500

Basic weighted average shares outstanding		17,747,070		17,930,611		17,729,355		17,886,154
Plus: common stock equivalents		45,226		148,237		82,540		267,113
Diluted weighted average shares outstanding		17,792,296		18,078,848		17,811,895		18,153,267
Net income per share
Basic	$	0.42	$	0.73	$	0.91	$	1.76
Diluted		0.42		0.73		0.91		1.74