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Earnings Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share

Note 10. Earnings Per Share

The following schedule reconciles the computation of basic and diluted earnings per share for the periods indicated:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

Dollars in thousands, except per share amounts

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

14,356

 

 

$

7,663

 

 

$

31,503

 

 

$

31,313

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding for basic earnings per share

 

 

9,370

 

 

 

9,683

 

 

 

9,493

 

 

 

9,622

 

Effect of dilutive securities

 

 

763

 

 

 

407

 

 

 

507

 

 

 

278

 

Weighted-average shares adjusted for dilutive securities

 

 

10,133

 

 

 

10,090

 

 

 

10,000

 

 

 

9,900

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.53

 

 

$

0.79

 

 

$

3.32

 

 

$

3.25

 

Diluted

 

$

1.42

 

 

$

0.76

 

 

$

3.15

 

 

$

3.16

 

The Company excluded outstanding shares of common stock totaling 1 thousand and 24 thousand for the three months ended September 30, 2025 and 2024, respectively, and 49 thousand and 0.3 million for the nine months ended September 30, 2025 and 2024, respectively, from the computation of diluted earnings per share because they were anti-dilutive.