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Earnings Per Share

6 Months Ended

Jun. 30, 2025

Earnings Per Share

Earnings Per Share

Note 3 – Earnings Per Share

Basic earnings per share is derived by dividing net income available to shareholders by the weighted-average number of common shares outstanding during the period and does not include the effect of any potentially dilutive common stock equivalents. Diluted earnings per share is derived by dividing net income available to shareholders by the weighted-average number of shares outstanding, adjusted for the dilutive effect of outstanding common stock equivalents, such as restricted stock units (“RSUs”). There were no anti-dilutive shares outstanding at June 30, 2025 or 2024.

The following table sets forth the calculation of basic and diluted earnings per common share for the six- and three-month periods ended June 30, 2025 and 2024:

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​

​

​

​

​

​

​

​

​

​

​

Six months ended June 30,

​

​

2025

​

2024

​

​

​

Average

Per Share

​

​

Average

Per Share

(in thousands, except for per share amount)

​

Income

​

Shares

​

Amount

​

Income

​

Shares

​

Amount

Basic Earnings Per Share:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

​

$

11,790

​

6,482

​

$

1.82

​

$

8,612

​

6,585

​

$

1.31

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Diluted Earnings Per Share:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Restricted stock units

​

​

​

​

16

​

​

​

​

​

​

​

11

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

​

$

11,790

​

6,498

​

$

1.81

​

$

8,612

​

6,596

​

$

1.31

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended June 30,

​

​

2025

​

2024

​

​

​

​

​

Average

​

Per Share

​

​

​

​

Average

​

Per Share

(in thousands, except for per share amount)

​

Income

​

Shares

​

Amount

​

Income

​

Shares

​

Amount

Basic Earnings Per Share:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

​

$

5,984

​

6,489

​

$

0.92

​

$

4,914

​

6,527

​

$

0.75

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Diluted Earnings Per Share:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Restricted stock units

​

​

​

​

17

​

​

​

​

​

​

​

10

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

​

$

5,984

​

6,506

​

$

0.92

​

$

4,914

​

6,537

​

$

0.75

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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- References

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-3

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