Basic earnings per common share are calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per common share are calculated by dividing net income by the weighted average number of shares adjusted for the dilutive effect of common stock awards (outstanding stock options and unvested restricted stock), if any. Presented below are the calculations for basic and diluted earnings per common share.


	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except per share data)	2026		2025		2026		2025
Net income	$	56,901	$	36,035	$	72,097	$	68,627
Weighted average common shares outstanding	21,208		15,029		19,728		15,142
Effect of dilutive common stock awards	521		402		518		396
Diluted weighted average common shares outstanding	21,729		15,431		20,246		15,538
Basic earnings per common share*	$	2.68	$	2.40	$	3.65	$	4.53
Diluted earnings per common share*	$	2.62	$	2.34	$	3.56	$	4.42

*Cumulative quarterly per share performance may not equal annual per share totals due to the effects of the amount and timing of capital increases. When computing earnings per share for an interim period, the denominator is based on the weighted average shares outstanding during the interim period, and not on an annualized weighted average basis. Accordingly, the sum of the earnings per share data for the quarters will not necessarily equal the year to date earnings per share data.