v3.26.1
Earnings Per Common Share ("EPS") (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Reconciliation of Earnings and Shares Used in Calculating Basic and Diluted EPS

The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS (in thousands, except per share amounts). All outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends are considered participating securities. There were no participating securities outstanding for the three and six months ended June 30, 2026 and 2025. Therefore, the two-class method of calculating basic and diluted EPS was not applicable for the periods presented.

 

 

 

Three months ended
June 30,

 

 

Six months ended
June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Net income available to common shareholders

 

$

20,819

 

 

$

17,168

 

 

$

41,440

 

 

$

33,681

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Total shares issued

 

 

20,700

 

 

 

20,700

 

 

 

20,700

 

 

 

20,700

 

Unvested restricted stock awards

 

 

(7

)

 

 

(10

)

 

 

(7

)

 

 

(10

)

Treasury shares

 

 

(1,006

)

 

 

(583

)

 

 

(1,028

)

 

 

(600

)

Total basic weighted average common shares outstanding

 

 

19,687

 

 

 

20,107

 

 

 

19,665

 

 

 

20,090

 

Incremental shares from assumed:

 

 

 

 

 

 

 

 

 

 

 

 

Vesting of restricted stock awards

 

 

254

 

 

 

187

 

 

 

266

 

 

 

201

 

Total diluted weighted average common shares outstanding

 

 

19,941

 

 

 

20,294

 

 

 

19,931

 

 

 

20,291

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

1.06

 

 

$

0.85

 

 

$

2.11

 

 

$

1.68

 

Diluted earnings per common share

 

$

1.04

 

 

$

0.85

 

 

$

2.08

 

 

$

1.66