Basic and diluted earnings per common share are calculated using the treasury method. Under the treasury method, basic earnings per share is calculated as net income divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share includes the dilutive effect of additional potential common shares issuable under the Company’s stock and incentive compensation plans. Information regarding the Company’s basic and diluted earnings per common share is presented in the following table:


(Dollars in thousands, except per share amounts)	Three Months Ended June 30,				Six Months Ended June 30,
Numerator:	2026		2025		2026		2025
Net income	$	33,846	$	14,647	$	61,539	$	37,058
Denominator:
Weighted average common shares outstanding	30,848,905		31,192,622		30,895,477		31,199,151
Dilutive effect of stock-based awards	309,022		135,196		304,510		176,653
Weighted average diluted common shares outstanding	31,157,927		31,327,818		31,199,987		31,375,804

Basic earnings per common share	$	1.10	$	0.47	$	1.99	$	1.19
Diluted earnings per common share	1.09		0.47		1.97		1.18

There were 13,547 and 14,458 weighted average shares of anti-dilutive stock-based awards excluded from the calculation of earnings per share for the three and six months ended June 30, 2026, respectively, primarily due to the exercise price, grant date fair value or purchase price of the stock awards exceeding the average market price of the Company’s stock during the respective periods. There were 303,140 and 186,446 weighted average shares of anti-dilutive stock-based awards excluded from the calculation of earnings per share for the three and six months ended June 30, 2025, respectively, primarily due to the exercise price, grant date fair value or purchase price of the stock awards exceeding the average market price of the Company’s stock during the respective periods.