Earnings Per Share

3 Months Ended

Mar. 31, 2026

Note 7 – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended March 31
(in thousands except per share data)	2026		2025
Numerator:
Net income	$	27,192	$	21,972

Denominator:
Basic earnings per share:
Weighted average shares		18,049		17,995
Diluted earnings per share:
Dilutive effect of equity grants		31		27
Adjusted weighted average shares		18,080		18,022

Earnings per share:
Basic earnings per share	$	1.51	$	1.22
Diluted earnings per share	$	1.50	$	1.22

There were no options to purchase common shares that were excluded from the diluted calculations above for the quarters ended March 31, 2026 and 2025. Unvested restricted stock grants were used in the calculation of diluted earnings per share based on the treasury method.