NOTE 6 — Earnings per Share The factors used in the earnings per share computation follow: | | | | | | | | | Three Months Ended March 31, | | | 2025 | | 2024 | | | | (Dollars in thousands, except per share data) | Basic: | | | | | | | Net income | | $ | 11,407 | | $ | 10,058 | Weighted average shares outstanding | | | 7,988,999 | | | 7,786,887 | Basic earnings per share | | $ | 1.43 | | $ | 1.29 | | | | | | | | Diluted: | | | | | | | Net income | | $ | 11,407 | | $ | 10,058 | Weighted average shares outstanding for basic earnings per share | | | 7,988,999 | | | 7,786,887 | Add: Dilutive effects of share based awards | | | 612,608 | | | 614,865 | Weighted average shares and dilutive potential shares | | | 8,601,607 | | | 8,401,752 | Diluted earnings per share | | $ | 1.33 | | $ | 1.20 |
Share-based awards totaling 27,900 and 95,450 shares of common stock were not considered in computing diluted earnings per common share for the three months ended March 31, 2025 and 2024, respectively, because they were anti-dilutive.
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