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Earnings Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share  
Earnings Per Share

Note 2: Earnings Per Share

Basic earnings per common share are computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per common share are computed by dividing net income available to common shareholders by the weighted average number of common shares, adjusted for the dilutive effect of stock compensation. For the three and nine months ended September 30, 2025, stock options and restricted stock units totaling 570,500 and 535,450 shares, respectively, were excluded from the calculation because they were deemed to be anti-dilutive. For the three and nine months ended September 30, 2024, stock options and restricted stock units totaling 774,770 and 1,137,208 shares, respectively, were excluded from the calculation because they were deemed to be antidilutive.

The following table presents the numerators and denominators for basic and diluted earnings per share computations for the three and nine months ended September 30, 2025 and 2024:

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Three Months Ended

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Nine Months Ended

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September 30, 

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September 30, 

(dollars in thousands, except per share data)

    

2025

    

2024

    

2025

    

2024

Net Income Available to Common Shareholders

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$

10,588

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$

7,662

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$

29,714

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$

21,581

Weighted Average Common Stock Outstanding:

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Weighted Average Common Stock Outstanding (Basic)

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27,504,840

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27,382,798

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27,511,297

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27,486,590

Dilutive Effect of Stock Compensation

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685,566

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522,112

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578,112

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433,194

Weighted Average Common Stock Outstanding (Dilutive)

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28,190,406

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27,904,910

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28,089,409

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27,919,784

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Basic Earnings per Common Share

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$

0.38

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$

0.28

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$

1.08

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$

0.79

Diluted Earnings per Common Share

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0.38

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0.27

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1.06

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0.77

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