v3.25.2
EPS (Tables)
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Analysis of Basic and Diluted Earnings Per Share
The following is an analysis of basic and diluted EPS, reflecting the application of the two-class method, as described below:
Three Months Ended
June 30,		Six Months Ended
June 30,
(In thousands, except number of shares and per share data)2025202420252024
Net income
$14,081 $11,993 $21,407 $25,265 
Dividends and undistributed earnings allocated to participating securities(1)
— (1)— (12)
Net income available to common shareholders
$14,081 $11,992 $21,407 $25,253 
Weighted-average common shares outstanding for basic EPS(2)
16,905,159 14,591,189 16,874,974 14,581,758 
Dilutive effect of stock-based awards(3)
67,236 55,858 66,925 57,976 
Weighted-average common and potential common shares for diluted EPS(2)
16,972,395 14,647,047 16,941,899 14,639,734 
Earnings per common share:  
Basic EPS$0.84 $0.82 $1.27 $1.73 
Diluted EPS0.83 0.81 1.26 1.72 
Awards excluded from the calculation of diluted EPS(4)
— — — 397
(1)    Represents dividends paid and undistributed earnings allocated to non-vested stock-based awards that contain non-forfeitable rights to dividends.
(2)    The Company issued 2,283,782 shares of common stock as consideration for the acquisition of Northway on January 2, 2025. Refer to Note 3 of the consolidated financial statements for further details.
(3)    Represents the assumed dilutive effect of restricted shares, restricted share units and contingently issuable performance-based awards utilizing the treasury stock method.
(4)    Represents stock-based awards not included in the computation of potential common shares for purposes of calculating diluted EPS as the exercise prices were greater than the average market price of the Company's common stock, and, therefore, are considered anti-dilutive.