Diluted earnings per share is calculated using both the two-class and the treasury stock methods with the more dilutive method used to determine diluted earnings per share. The treasury stock method was used to determine earnings per share for the three months ended March 31, 2025 and the two-class method was used to determine earnings per share for the three months ended March 31, 2024.

The following table reconciles the numerators and denominators of basic and diluted EPS calculations for the periods presented:


		Three Months Ended March 31,

(in thousands, except share and per share data)	2025		2024
Numerator for Earnings per Share—Basic and Diluted:
Net income—Treasury Stock Method—Basic and Diluted			$	33,401	$	31,239
Less: Income allocated to participating shares			—		12
Net Income Allocated to Shareholders—Two-Class Method—Basic and Diluted			$	33,401	$	31,227















Denominator for Earnings per Share—Treasury Stock Method:
Weighted Average Shares Outstanding—Basic			38,260,746		38,192,235
Add: Potentially dilutive shares			338,910		239,514
Denominator for Treasury Stock Method—Diluted			38,599,656		38,431,749

Denominator for Earnings per Share—Two-Class Method:
Weighted Average Shares Outstanding—Basic			38,260,746		38,192,235
Add: Average participating shares outstanding			—		225,850
Denominator for Two-Class Method—Diluted			38,260,746		38,418,085


Earnings per share—basic			$	0.87	$	0.82
Earnings per share—diluted			$	0.87	$	0.81

Restricted stock considered anti-dilutive excluded from potentially dilutive shares			—		71