| Calculation of Basic Earnings Per Share |
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(In Thousands, Except Per Share Data) |
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Three Months Ended |
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Six Months Ended |
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June 30, 2025 |
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June 30, 2024 |
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June 30, 2025 |
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June 30, 2024 |
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Earnings per share |
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Net income |
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$ |
7,710 |
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$ |
5,682 |
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$ |
14,662 |
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$ |
11,041 |
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Less: distributed earnings allocated to participating
securities |
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(38 |
) |
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(36 |
) |
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(77 |
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(72 |
) |
Less: undistributed earnings allocated to participating
securities |
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(59 |
) |
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(32 |
) |
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(103 |
) |
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(57 |
) |
Net earnings available to common shareholders |
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$ |
7,613 |
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$ |
5,614 |
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$ |
14,482 |
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$ |
10,912 |
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Weighted average common shares outstanding including
participating securities |
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13,720,339 |
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13,681,501 |
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13,713,211 |
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13,676,333 |
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Less: average unvested restricted shares |
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(172,894 |
) |
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(164,228 |
) |
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(168,549 |
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(160,367 |
) |
Weighted average common shares outstanding |
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13,547,445 |
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13,517,273 |
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13,544,662 |
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13,515,966 |
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Basic and diluted earnings per share |
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$ |
0.56 |
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$ |
0.42 |
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$ |
1.07 |
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$ |
0.81 |
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