The following is an analysis of basic and diluted EPS, reflecting the application of the two-class method, as described below:


	Three Months Ended March 31,
(In thousands, except number of shares and per share data)	2026		2025


Net income available to common shareholders	$	21,883	$	7,326
Weighted-average common shares outstanding for basic EPS	16,924,182		16,844,827
Dilutive effect of stock-based awards(1)	99,777		84,988
Weighted-average common and potential common shares for diluted EPS	17,023,959		16,929,815

Earnings per common share:
Basic EPS	$	1.29	$	0.43
Diluted EPS	$	1.29	$	0.43

Awards excluded from the calculation of diluted EPS(2)	—		—

(1) Represents the assumed dilutive effect of restricted shares, restricted share units and contingently issuable performance-based awards utilizing the treasury stock method.

(2) Represents any stock-based awards not included in the computation of potential common shares for purposes of calculating diluted EPS as the exercise prices were greater than the average market price of the Company's common stock, and, therefore, are considered anti-dilutive.