Earnings Per Share

3 Months Ended

Mar. 31, 2026

(2) Earnings Per Share

The Company computes earnings per share in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share (“ASC 260”). A reconciliation of the component parts of earnings per share for the three months ended March 31, 2026 and 2025 is as follows:

(in thousands, except per share data)	For the three months ended
	March 31,
	2026		2025


Net income	$	16,285	$	14,275
Weighted average common shares		17,813		19,020
Effect of Dilutive Securities:
Stock Options and Restricted Stock Units		63		24
Weighted average common shares including potential dilutive shares		17,876		19,044

Basic EPS	$	0.91	$	0.75

Diluted EPS	$	0.91	$	0.75

For the three months ended March 31, 2026 there were no weighted average antidilutive stock options excluded from diluted earnings per share. For the three months ended March 31, 2025 there were approximately 8 thousand weighted average anti-dilutive stock options excluded from dilutive. The stock options were antidilutive because the strike price is greater than the average fair value of the Company’s common stock.