| Earnings Per Share |
Note 10. Earnings Per Share The computation of basic earnings per share is based on the weighted average number of common shares outstanding during the period, adjusted for stock splits. The computation of diluted earnings per share for the Company begins with the basic earnings per share and includes the effect of common shares contingently issuable from stock options, RSUs and PSUs. The following is a summary of components comprising basic and diluted earnings per share (“EPS”) for the three and six months ended June 30, 2025 and 2024:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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(Dollars in Thousands Except
Share and Per Share Amounts) |
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(Dollars in Thousands Except
Share and Per Share Amounts) |
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Basic EPS Computation: |
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Numerator – Earnings available to common shareholders |
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$ |
19,115 |
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$ |
16,137 |
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$ |
35,507 |
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$ |
28,905 |
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Denominator – Weighted average number of common
shares outstanding |
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11,996,239 |
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11,769,300 |
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11,979,603 |
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11,760,683 |
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Basic earnings per common share |
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$ |
1.59 |
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$ |
1.37 |
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$ |
2.96 |
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$ |
2.46 |
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Diluted EPS Computation: |
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Numerator – Earnings available to common shareholders |
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$ |
19,115 |
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$ |
16,137 |
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$ |
35,507 |
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$ |
28,905 |
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Denominator – Weighted average number of common
shares outstanding |
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11,996,239 |
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11,769,300 |
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11,979,603 |
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11,760,683 |
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Dilutive effect of stock options, RSUs and PSUs |
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38,715 |
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30,936 |
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38,038 |
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30,338 |
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Weighted average diluted common shares outstanding |
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12,034,954 |
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11,800,236 |
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12,017,641 |
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11,791,021 |
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Diluted earnings per common share |
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$ |
1.59 |
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$ |
1.37 |
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$ |
2.95 |
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$ |
2.45 |
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