The following table sets forth the computation of basic and diluted earnings per common share for three months ended March 31, 2026 and 2025.


	Three Months Ended March 31,
(In thousands, except common share and per common share data)	2026		2025
Numerator:
Net income	$	41,687	$	42,157
Denominator:
Weighted-average common shares outstanding	17,381,922		16,159,342
Effect of dilutive PBRSUs and TBRSUs	75,651		79,359
Weighted-average common shares outstanding adjusted for the effect of dilutive PBRSUs and TBRSUs	17,457,573		16,238,701
Earnings per common share:
Basic earnings per common share	$	2.40	$	2.61
Diluted earnings per common share	$	2.39	$	2.60

Park awarded 58,778 PBRSUs and 49,350 PBRSUs to certain employees during the three months ended March 31, 2026 and 2025, respectively.

On February 1, 2026, Park issued 1,988,131 common shares to complete its acquisition of First Citizens and granted 13,890 TBRSUs to former First Citizens employees. These common shares are included in average common shares outstanding beginning on that date.

No common shares were repurchased during the three months ended March 31, 2026 or 2025, respectively, to fund the PBRSUs, TBRSUs, and the common shares to be awarded to directors of Park and to directors of Park's subsidiary PNB (and its divisions) as well as pursuant to Park's previously announced stock repurchase authorizations