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

(3) Net Earnings Per Share

 

Net earnings per share is based on the weighted average number of shares outstanding during the period while the effects of potential shares outstanding during the period are included in diluted earnings per share. The average market price during the applicable period is used to compute equivalent shares.

 

Shares held in the deferred compensation plan by the deferred compensation trust are excluded for purposes of calculating the weighted average number of shares outstanding and basic earnings per share in accordance with ASC 260-10-45-40 and ASC 260-10-45-45 through ASC 260-26010-45-46. The reconciliation of the amounts used in the computation of both basic earnings per share and diluted earnings per share for the three and nine months ended September 30, 2025 and 2024 is as follows:

 

For the three months ended September 30, 2025        

 

 

 

 Net Earnings (Dollars in thousands)

 

 

 Weighted Average Number of Shares

 

 

 Per Share Amount

 

Basic earnings per share

 

$3,692

 

 

 

5,309,028

 

 

$0.70

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units - unvested

 

 

 

 

 

 

12,151

 

 

 

 

 

Shares held in deferred comp plan

 

 

 

 

 

 

 

 

 

 

 

 

by deferred compensation trust

 

 

 

 

 

 

150,443

 

 

 

 

 

Diluted earnings per share

 

$3,692

 

 

 

5,471,622

 

 

$0.67

 

 

For the nine months ended September 30, 2025        

 

 

 

 Net Earnings (Dollars in thousands)

 

 

 Weighted Average Number of Shares

 

 

 Per Share Amount

 

Basic earnings per share

 

$13,197

 

 

 

5,303,953

 

 

$2.49

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units - unvested

 

 

 

 

 

 

11,098

 

 

 

 

 

Shares held in deferred comp plan

 

 

 

 

 

 

 

 

 

 

 

 

by deferred compensation trust

 

 

 

 

 

 

154,502

 

 

 

 

 

Diluted earnings per share

 

$13,197

 

 

 

5,469,553

 

 

$2.41

 

For the three months ended September 30, 2024        

 

 

 

 Net Earnings (Dollars in thousands)

 

 

 Weighted Average Number of Shares

 

 

 Per Share Amount

 

Basic earnings per share

 

$3,958

 

 

 

5,295,765

 

 

$0.74

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units - unvested

 

 

 

 

 

 

22,616

 

 

 

 

 

Shares held in deferred comp plan

 

 

 

 

 

 

 

 

 

 

 

 

by deferred compensation trust

 

 

 

 

 

 

162,576

 

 

 

 

 

Diluted earnings per share

 

$3,958

 

 

 

5,480,957

 

 

$0.72

 

 

For the nine months ended September 30, 2024        

 

 

 

 Net Earnings (Dollars in thousands)

 

 

 Weighted Average Number of Shares

 

 

 Per Share Amount

 

Basic earnings per share

 

$12,794

 

 

 

5,301,742

 

 

$2.41

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units - unvested

 

 

 

 

 

 

20,224

 

 

 

 

 

Shares held in deferred comp plan

 

 

 

 

 

 

 

 

 

 

 

 

by deferred compensation trust

 

 

 

 

 

 

161,304

 

 

 

 

 

Diluted earnings per share

 

$12,794

 

 

 

5,483,270

 

 

$2.33