v3.26.1
Note 11 - Earnings Per Common Share
 3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 11: Earnings Per Common Share

 

The table below shows earnings per common share and diluted earnings per common share. Basic earnings per common share are computed by dividing net income by the average number of common shares outstanding during the period. Diluted earnings per common share are computed by dividing net income by the average number of common shares outstanding during the period plus the impact of common stock equivalents.

 

   

For the Three Months Ended

  
   

March 31,

  
   

2026

    

2025

  
   

(In thousands, except per share data)

  

Net income (numerator)

   $ 27,355     $ 31,037  

Basic earnings per common share

                

Weighted average number of common shares outstanding - basic (denominator)

     24,306       26,642  

Basic earnings per common share

   $ 1.13     $ 1.16  

Diluted earnings per common share

                

Weighted average number of common shares outstanding - basic

     24,306       26,642  

Add common stock equivalents for options

     -       -  

Weighted average number of common shares outstanding - diluted (denominator)

     24,306       26,642  

Diluted earnings per common share

   $ 1.13     $ 1.16  

 

For the three months ended March 31, 2026 and March 31, 2025, options to purchase 1,182 thousand and 1,269 thousand shares of common stock, respectively, were outstanding but not included in the computation of diluted earnings per share because the option exercise price exceeded the fair value of the stock such that their inclusion would have had an anti-dilutive effect.