Share Repurchase Program – At December 31, 2025, the Company was authorized to repurchase up to $30,000,000 of the Company’s shares of its issued and outstanding common stock under a share repurchase program (the “Repurchase Program”) adopted by the Board of Directors (the "Board") in July 2024, as amended on October 23, 2025. The repurchase program is in effect through October 31, 2026. Under the Repurchase Program, the Company is authorized

to purchase its common stock from time-to-time in open market transactions, made pursuant to Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The actual timing, price, value and amount of any repurchases under the Repurchase Program will depend on various factors, including the market price of the Company’s common stock, trading volume, general market conditions and other corporate and economic considerations, including the best interests of our shareholders. For the year ended December 31, 2025, the Company repurchased 439,187 shares of its common stock with a weighted average price of $9.22 per share for a total of $4,049,000. At December 31, 2025, the remaining capacity under the Repurchase Program was $25,951,000.

Earnings Per Share – Basic earnings per common share is computed by dividing net income, less dividends and discount accretion on preferred stock, by the weighted average common shares outstanding. Diluted earnings per share reflect potential dilution from outstanding stock options using the treasury stock method. There were 1,363,444 weighted average stock options for the year ended December 31, 2025, considered to be antidilutive and excluded from the computation of diluted earnings per share. There were no weighted average RSUs outstanding for the year ended December 31, 2025 considered to be antidilutive and excluded from the computation of diluted earnings per shares. There were 1,571,756 weighted average stock options for the year ended December 31, 2024, considered to be antidilutive and excluded from the computation of diluted earnings per share. There were 5,823 weighted average RSUs outstanding for the year ended December 31, 2024, considered to be antidilutive and excluded from the computation of diluted earnings per share. There were 1,655,654 weighted average stock options for the year ended December 31, 2023, considered to be antidilutive and excluded from the computation of diluted earnings per share. A reconciliation of these factors used in computing basic and diluted earnings per common share is as follows:


	Year Ended December 31,
	2025		2024		2023

	(Dollars in thousands, except per share amounts)
Net income	$	47,830	$	40,528	$	64,443

Weighted average common shares outstanding
for basic earnings per common share	61,407,520		61,270,730		61,038,857
Dilutive potential common shares	294,575		256,642		272,461
Shares used in computing diluted earnings per common share	61,702,095		61,527,372		61,311,318

Basic earnings per share	$	0.78	$	0.66	$	1.06
Diluted earnings per share	$	0.78	$	0.66	$	1.05