Note 11 - Earnings Per Common Share

6 Months Ended

Jun. 30, 2026

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 11: Earnings Per Common Share

The table below shows earnings per common share and diluted earnings per common share. Basic earnings per common share are computed by dividing net income by the average number of common shares outstanding during the period. Diluted earnings per common share are computed by dividing net income by the average number of common shares outstanding during the period plus the impact of common stock equivalents.

		For the Three Months								For the Six Months
		Ended June 30,
		2026				2025				2026				2025
		(In thousands, except per share data)
Net income applicable to common equity (numerator)		$	27,385			$	29,066			$	54,740			$	60,103
Basic earnings per common share
Weighted average number of common shares outstanding - basic (denominator)			23,306				25,889				23,804				26,263
Basic earnings per common share		$	1.17			$	1.12			$	2.30			$	2.29
Diluted earnings per common share
Weighted average number of common shares outstanding - basic			23,306				25,889				23,804				26,263
Add common stock equivalents for options			13				-				6				-
Weighted average number of common shares outstanding - diluted (denominator)			23,319				25,889				23,810				26,263
Diluted earnings per common share		$	1.17			$	1.12			$	2.30			$	2.29

For the three and six months ended June 30, 2026, options to purchase 837 thousand and 1,008 thousand shares of common stock, respectively, were outstanding but not included in the computation of diluted earnings per common share because the option exercise price exceeded the fair value of the stock such that their inclusion would have had an anti-dilutive effect.

For the three and six months ended June 30, 2025, options to purchase 1,266 thousand and 1,268 thousand shares of common stock, respectively, were outstanding but not included in the computation of diluted earnings per common share because the option exercise price exceeded the fair value of the stock such that their inclusion would have had an anti-dilutive effect.