| Computation of Basic and Diluted Earnings Per Share |
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:
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Quarters Ended
June 30, |
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Six Months Ended
June 30, |
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(Dollars in thousands, except share and per share data) |
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2025 |
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2024 |
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2025 |
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2024 |
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Numerator: |
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Net income |
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$ |
10,344 |
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$ |
10,093 |
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$ |
6,355 |
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$ |
21,459 |
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Less: preferred stock distributions |
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110 |
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110 |
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220 |
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220 |
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Net income available to common shareholders |
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$ |
10,234 |
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$ |
9,983 |
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$ |
6,135 |
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$ |
21,239 |
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Denominator: |
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Weighted average shares for basic earnings per share |
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14,274,926 |
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13,609,618 |
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14,072,225 |
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13,594,414 |
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Options |
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66,325 |
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68,290 |
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88,413 |
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64,740 |
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Weighted average shares for diluted earnings per share |
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14,341,251 |
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13,677,908 |
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14,160,638 |
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13,659,154 |
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Net income per share available to common shareholders |
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Basic |
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$ |
0.72 |
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$ |
0.73 |
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$ |
0.44 |
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$ |
1.56 |
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Diluted |
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$ |
0.71 |
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$ |
0.73 |
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$ |
0.43 |
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$ |
1.55 |
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