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NOTE 17 Earnings Per Share
The calculation of basic and diluted earnings per share using the two-class method for the three months ended March 31, 2025 and 2024 are presented below:
| | | Three months ended | |
| | | March 31, | |
| (dollars and shares in thousands, except per share data) | | 2025 | | | 2024 | |
| Net income | | $ | 13,315 | | | $ | 6,432 | |
| Dividends and undistributed earnings allocated to participating securities | | | 99 | | | | 40 | |
| Net income available to common stockholders | | $ | 13,216 | | | $ | 6,392 | |
| Weighted-average common shares outstanding for basic earnings per share | | | 25,359 | | | | 19,739 | |
| Dilutive effect of stock-based awards | | | 294 | | | | 247 | |
| Weighted-average common shares outstanding for diluted earnings per share | | | 25,653 | | | | 19,986 | |
| Earnings per common share: | | | | | | | | |
| Basic earnings per common share | | $ | 0.52 | | | $ | 0.32 | |
| Diluted earnings per common share | | $ | 0.52 | | | $ | 0.32 | |
There were no antidilutive shares for the three months ended March 31, 2025 and 2024.
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