XML 29 R18.htm IDEA: XBRL DOCUMENT v3.25.2
Earnings Per Common Share
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Common Share Earnings Per Common Share
Basic EPS is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, after giving retroactive effect to stock splits. Diluted EPS includes accrued but unissued shares relating to the Director Compensation Program, stock options, and restricted stock determined using the treasury stock method. The dilutive EPS calculation assumes all outstanding stock options to purchase common stock have been exercised at the beginning of the year, and the pro forma proceeds from the exercised options and restricted stock are used to purchase common stock at the average fair market valuation price.
The computations of basic and diluted earnings per common share for the Company were as follows:
For the Three Months Ended June 30, For the Six Months Ended June 30, 
(in thousands, except share amounts)2025202420252024
Numerator:
Net income - basic$10,196 $7,987 $20,548 $16,175 
Net income - diluted$10,196 $7,987 $20,548 $16,175 
 
Denominator:
Weighted average shares outstanding - basic6,740,312 6,896,030 6,758,720 6,973,039 
Plus: Effect of Director Compensation Program307 406 588 875 
Plus: Effect of restricted stock24,267 17,704 24,267 17,704 
Weighted average shares outstanding - diluted6,764,886 6,914,140 6,783,575 6,991,618 
 
Earnings per common share:
Basic$1.51 $1.16 $3.04 $2.32 
Diluted$1.51 $1.16 $3.03 $2.31