Schedule of Changes in Non-Vested Performance-Based Shares

Changes in non-vested shares dependent on performance criteria for the nine months ended September 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, September 30, 2024		135,477		$	32.71

(1) 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				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands, except per share data)	2024		2023		2024		2023
Net income available to common shareholders	$	7,587	$	8,755	$	23,748	$	40,255

Basic weighted average shares outstanding		17,616,046		17,856,961		17,691,309		17,876,316
Plus: common stock equivalents		83,996		153,166		55,251		215,208
Diluted weighted average shares outstanding		17,700,042		18,010,127		17,746,560		18,091,524
Net income per share
Basic	$	0.43	$	0.49	$	1.34	$	2.25
Diluted		0.43		0.49		1.34		2.23