A reconciliation of basic and diluted net income per common share for the years ended December 31 follows: | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | 2023 | | (In thousands, except per share
amounts) | | Net income | $ | 68,541 | | | $ | 66,790 | | | $ | 59,067 | | | | | | | | | Weighted average shares outstanding (1) | 20,758 | | 20,892 | | 20,976 | | Stock units for deferred compensation plan for non-employee directors | 175 | | 180 | | 160 | | Performance share units | 28 | | 31 | | 23 | | Effect of stock options | 2 | | 3 | | 11 | | Weighted average shares outstanding for calculation of diluted earnings per share | 20,963 | | 21,106 | | 21,170 | | | | | | | | Net income per common share | | | | | | | Basic (1) | $ | 3.30 | | | $ | 3.20 | | | $ | 2.82 | | | Diluted | $ | 3.27 | | | $ | 3.16 | | | $ | 2.79 | |
_________________________________________ | | | | | | | (1) | Basic net income per common share includes weighted average common shares outstanding during the period. |
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