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Earnings Per Common Share
 9 Months Ended
Sep. 30, 2025
Earnings per common share  
Earnings Per Common Share

NOTE 8 – Earnings Per Common Share

 

The following schedule reconciles the numerators and denominators of the basic and diluted earnings per share computations for the three and nine month periods ended September 30, 2025 and 2024. Dilutive common shares arise from the potentially dilutive effect of the Company’s stock options and unvested restricted stock that were outstanding at September 30, 2025. The assumed conversion of stock options can create a difference between basic and dilutive net income per common share. At September 30, 2025 and 2024, there were 45,662 and 263,387 options, respectively, that were not considered in computing diluted earnings per common share because they were anti-dilutive.

 

Schedule of earnings per common share                        
         
   Three months ended
September 30,		   Nine months ended
September 30,		 
(dollars in thousands, except share data)  2025   2024   2025   2024 
Numerator:                    
Net income available to common shareholders  $8,662    4,382    20,509    9,903 
Denominator:                    
Weighted-average common shares outstanding – basic   8,030,944    8,064,283    8,048,426    8,100,003 
Common stock equivalents   49,515    24,893    32,252    23,843 
Weighted-average common shares outstanding – diluted   8,080,459    8,089,176    8,080,678    8,123,846 
Earnings per common share:                    
Basic  $1.08    0.54    2.55    1.22 
Diluted   1.07    0.54    2.54    1.22