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NOTE 5. EARNINGS PER SHARE (“EPS”)
The following tables set forth the calculation of basic and diluted EPS for the three months ended March 31, 2026 and 2025.
| | | Three months ended March 31, | |
| | | 2026 | | | 2025 | |
| | | (Dollars in thousands except share and per share data) | |
| Basic earnings per common share | | | | | | | | |
| Net income available to the Company | | $ | 11,844 | | | $ | 7,778 | |
| Less: Dividend on series B preferred stock | | | (5 | ) | | | (5 | ) |
| Net income available to common shareholders | | | 11,839 | | | | 7,773 | |
| Basic weighted-average common shares outstanding | | | 11,706,574 | | | | 11,836,384 | |
| Basic earnings per common share | | $ | 1.01 | | | $ | 0.66 | |
| Diluted earnings per common share | | | | | | | | |
| Net income available to common shares | | $ | 11,839 | | | $ | 7,773 | |
| Add: Dividend on series B preferred stock | | | 5 | | | | 5 | |
| Net income available to diluted common shares | | | 11,844 | | | | 7,778 | |
| Basic weighted-average common shares outstanding | | | 11,706,574 | | | | 11,836,384 | |
| Dilutive potential common shares | | | 197,202 | | | | 170,581 | |
| Diluted weighted-average common shares outstanding | | | 11,903,776 | | | | 12,006,965 | |
| Diluted earnings per common share | | $ | 0.99 | | | $ | 0.65 | |
During the three months ended March 31, 2026 and 2025, respectively, there were zero and 174,125 weighted average option shares outstanding, respectively, that were not included in the computation of diluted EPS because these shares were anti-dilutive.
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