| Schedule of earnings per share |
The factors used in the earnings per share calculation are as follows (in thousands, except per share data). | | | | | | | | | | | Three months ended March 31, | | | | | 2026 | | 2025 | | | Basic | | | | | | | | | Net income available to common stockholders | | $ | 31,426 | | $ | 16,354 | | | | | | | | | | | | Weighted average common shares outstanding including participating securities | | | 10,702,882 | | | 11,215,118 | | | Less: Weighted average participating securities | | | (28,184) | | | — | | | Weighted average common shares outstanding | | | 10,674,698 | | | 11,215,118 | | | | | | | | | | | | Basic earnings per common share | | $ | 2.94 | | $ | 1.46 | | | | | | | | | | | | Diluted | | | | | | | | | Net income allocated to common stockholders | | $ | 31,426 | | $ | 16,354 | | | | | | | | | | | | Weighted average common shares outstanding for basic earnings per common share | | | 10,674,698 | | | 11,215,118 | | | Add: Dilutive effects of assumed vesting of performance based restricted stock units | | | 27,989 | | | 19,697 | | | Add: Dilutive effects of assumed vesting of restricted stock units | | | 52,724 | | | 46,560 | | | Average shares and diluted potential common shares | | | 10,755,411 | | | 11,281,375 | | | | | | | | | | | | Diluted earnings per common share | | $ | 2.92 | | $ | 1.45 | | |
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