| Earnings Per Share |
Earnings Per Share The following table presents the computations of basic and diluted earnings per share (“EPS”) for the periods indicated: | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | ($ in thousands, except per share) | | 2025 | | 2024 | | | | | Basic earnings per share: | | | | | | | | | | Net income available to common shareholders | | $ | 7,695 | | | $ | 4,685 | | | | | | Less: income allocated to unvested restricted stock | | (61) | | | (9) | | | | | | Net income allocated to common stock | | $ | 7,634 | | | $ | 4,676 | | | | | | Weighted-average total common shares outstanding | | 14,386,422 | | | 14,262,235 | | | | | | Less: weighted-average unvested restricted stock | | (114,155) | | | (26,816) | | | | | | Weighted-average common shares outstanding, basic | | 14,272,267 | | | 14,235,419 | | | | | | Basic earnings per share | | $ | 0.53 | | | $ | 0.33 | | | | | | Diluted earnings per share: | | | | | | | | | Net income allocated to common stock | | $ | 7,634 | | | $ | 4,676 | | | | | | Weighted-average common shares outstanding, basic | | 14,272,267 | | | 14,235,419 | | | | | | Diluted effect of stock options | | 131,502 | | | 94,785 | | | | | | Weighted-average common shares outstanding, diluted | | 14,403,769 | | | 14,330,204 | | | | | | Diluted earnings per share | | $ | 0.53 | | | $ | 0.33 | | | | | | | | | | | | | | |
There were 60,000 and 263,000 stock options excluded in computing diluted EPS because they were anti-dilutive for three months ended March 31, 2025 and 2024, respectively.
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