v3.25.4
Earnings Per Share
12 Months Ended
Dec. 31, 2025
Earnings Per Share  
Earnings Per Share

2. Earnings Per Share

Basic earnings per share is derived by dividing net income by the weighted-average number of common shares outstanding during the period and does not include the effect of any potentially dilutive common stock equivalents. Diluted earnings per share is derived by dividing net income by the weighted-average number of shares outstanding, adjusted for the dilutive effect of outstanding common stock equivalents. There were no anti-dilutive shares at December 31, 2025 or 2024.

The following table sets forth the calculation of basic and diluted earnings per share for the years ended December 31, 2025 and 2024:

2025

2024

Average

Per Share

Average

Per Share

(in thousands, except for per share amount)

  ​ ​ ​

Income

  ​ ​ ​

Shares

  ​ ​ ​

Amount

  ​ ​ ​

Income

  ​ ​ ​

Shares

  ​ ​ ​

Amount

Basic Earnings Per Share:

Net income

$

24,515

6,490

$

3.78

$

20,569

6,527

$

3.15

Diluted Earnings Per Share:

Restricted stock units

14

13

Net income

$

24,515

6,504

$

3.77

$

20,569

6,540

$

3.15