| Schedule of Computation of Basic and Diluted Earnings Per Share |
The following table presents the calculation of net income applicable to common stockholders and basic and diluted EPS for the three and six months ended June 30, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | ($ in thousands, except share and per share data) | | 2025 | | 2024 | | 2025 | | 2024 | | Basic | | | | | | | | | | Net income | | $ | 6,333 | | | $ | 5,436 | | | $ | 11,893 | | | $ | 10,662 | | | Distributed and undistributed earnings allocated to participating securities | | (53) | | | (103) | | | (127) | | | (201) | | | Net income allocated to common shares | | $ | 6,280 | | | $ | 5,333 | | | $ | 11,766 | | | $ | 10,461 | | | Weighted average common shares outstanding | | 14,859,718 | | | 14,868,344 | | | 14,858,483 | | | 14,930,090 | | | Basic earnings per common share | | $ | 0.42 | | | $ | 0.36 | | | $ | 0.79 | | | $ | 0.70 | | | Diluted | | | | | | | | | | Net income allocated to common shares | | $ | 6,280 | | | $ | 5,333 | | | $ | 11,766 | | | $ | 10,461 | | Weighted average common shares outstanding for basic earnings per common share | | 14,859,718 | | | 14,868,344 | | | 14,858,483 | | | 14,930,090 | | Add: Dilutive effects of assumed exercises of stock options (1) | | — | | | — | | | — | | | — | | | Average shares and dilutive potential common shares | | 14,859,718 | | | 14,868,344 | | | 14,858,483 | | | 14,930,090 | | | Diluted earnings per common share | | $ | 0.42 | | | $ | 0.36 | | | $ | 0.79 | | | $ | 0.70 | | |
(1)No share of common stock was antidilutive for the three and six months ended June 30, 2025 and 2024.
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