| Calculation of Basic and Diluted Earnings Per Share |
The table below presents basic and diluted earnings per share for the three and six months ended June 30, 2026 and 2025.
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(In Thousands, Except Per Share Data) |
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Three Months Ended |
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Six Months Ended |
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June 30, 2026 |
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June 30, 2025 |
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June 30, 2026 |
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June 30, 2025 |
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Earnings per share |
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Net income |
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$ |
11,797 |
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$ |
7,710 |
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$ |
21,375 |
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$ |
14,662 |
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Less: distributed earnings allocated to participating
securities |
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(40 |
) |
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(38 |
) |
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(80 |
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(77 |
) |
Less: undistributed earnings allocated to
participating securities |
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(108 |
) |
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(59 |
) |
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(186 |
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(103 |
) |
Net earnings available to common shareholders |
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$ |
11,649 |
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$ |
7,613 |
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$ |
21,109 |
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$ |
14,482 |
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Weighted average common shares outstanding
including participating securities |
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13,773,387 |
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13,720,339 |
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13,764,087 |
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13,713,211 |
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Less: average unvested restricted shares |
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(173,007 |
) |
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(172,894 |
) |
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(171,107 |
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(168,549 |
) |
Weighted average common shares outstanding |
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13,600,380 |
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13,547,445 |
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13,592,980 |
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13,544,662 |
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Basic and diluted earnings per share |
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$ |
0.86 |
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$ |
0.56 |
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$ |
1.55 |
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$ |
1.07 |
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