v3.25.2
Earnings Per Share
6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 4 – EARNINGS PER SHARE

Earnings per share are based on the weighted average number of shares outstanding during the period. A computation of basic earnings per share and diluted earnings per share follows:

 

 

Three Months Ended

 

 

Six Months Ended

 

(Dollars in thousands, except share data)

June 30,

 

 

June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Basic

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

$

13,534

 

 

$

6,586

 

 

$

(372

)

 

$

12,220

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

14,999,067

 

 

 

7,569,241

 

 

 

12,849,509

 

 

 

7,560,960

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic (loss) earnings per common shares

$

0.90

 

 

$

0.87

 

 

$

(0.03

)

 

$

1.62

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

$

13,534

 

 

$

6,586

 

 

$

(372

)

 

$

12,220

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

14,999,067

 

 

 

7,569,241

 

 

 

12,849,509

 

 

 

7,560,960

 

Plus dilutive stock options and restricted stock units

 

36,046

 

 

 

35,722

 

 

 

39,390

 

 

 

37,255

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding and potentially dilutive shares

 

15,035,113

 

 

 

7,604,963

 

 

 

12,888,899

 

 

 

7,598,215

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted (loss) earnings per common share

$

0.90

 

 

$

0.87

 

 

$

(0.03

)

 

$

1.61

 

 

There were no stock options that were considered anti-dilutive to earnings per share for the three and six months ended June 30, 2025. There were 6,000 and 4,500 stock options that were considered anti-dilutive to earnings per share for the three and six months ended June 30, 2024, respectively. There were 2,359 and 1,945 performance awards that were considered anti-dilutive to earnings for the three and six months ended June 30, 2025, respectively.