Common Stock and Earnings per Share (Tables)

The table below shows activity in the outstanding shares of the Company’s common stock during 2025.


			2025
Shares outstanding at January 1			13,504,104
Issuance of common stock:
Employee restricted stock units vested			16,008
Performance-based stock vested			55,348


Employee restricted stock surrendered for tax obligations			(37,925)
Shares repurchased			(617,415)
Shares forfeited			(2,483)
Shares outstanding at December 31			12,917,637

The calculations of basic and diluted earnings per share are as follows:


	December 31,
(In thousands except share and per share data)	2025		2024		2023
Basic:
Net income from continuing operations	$	31,112	$	18,558	$	27,890
Net income from discontinued operations	4,004		610		2,169
Net income	$	35,116	$	19,168	$	30,059
Weighted-average common shares outstanding	13,181,884		13,501,930		13,530,005
Basic earnings per share from continuing operations	$	2.36	$	1.37	$	2.06
Basic earnings per share from discontinued operations	$	0.30	$	0.05	$	0.16
Basic earnings per share	$	2.66	$	1.42	$	2.22
Diluted:
Net income from continuing operations	$	31,112	$	18,558	$	27,890
Net income from discontinued operations	4,004		610		2,169
Net income	$	35,116	$	19,168	$	30,059
Weighted-average common shares outstanding	13,181,884		13,501,930		13,530,005
Effect of dilutive restricted stock and stock appreciation rights	281,415		275,641		286,011
Weighted-average common shares outstanding assuming dilution	13,463,299		13,777,571		13,816,016
Diluted earnings per share from continuing operations	$	2.31	$	1.35	$	2.02
Diluted earnings per share from discontinued operations	$	0.30	$	0.04	$	0.16
Diluted earnings per share	$	2.61	$	1.39	$	2.18