Earnings per share was computed using the weighted average number of common shares and common share equivalents outstanding during the period.

The following table sets forth the computation of basic and diluted earnings per share attributable to class A common shares, class A common shares designated as class A-2 common shares, and class B common shares:


	Quarters Ended June 30,				Six Months Ended June 30,
(Dollars in thousands, except share and per share data)	2025		2024		2025		2024
Numerator:
Net income	$	10,344	$	10,093	$	6,355	$	21,459
Less: preferred stock distributions		110		110		220		220
Net income available to common shareholders	$	10,234	$	9,983	$	6,135	$	21,239

Denominator:
Weighted average shares for basic earnings per share		14,274,926		13,609,618		14,072,225		13,594,414
Options		66,325		68,290		88,413		64,740
Weighted average shares for diluted earnings per share		14,341,251		13,677,908		14,160,638		13,659,154

Net income per share available to common shareholders
Basic	$	0.72	$	0.73	$	0.44	$	1.56
Diluted	$	0.71	$	0.73	$	0.43	$	1.55

The weighted average shares outstanding used to determine dilutive earnings per share does not include 483,338 options and 283,338 options for the quarter and six months ended June 30, 2025, respectively, and 550,000 options for both the quarter and six months ended June 30, 2024 which were deemed to be anti-dilutive.