The Company has granted restricted stock awards with non-forfeitable rights (with respect to dividends), which are considered participating securities. Accordingly, earnings per common share are computed using the two-class method as required by ASC 260-10-45. Basic earnings per common share are computed as net income available to common shareholders divided by the weighted average number of common shares outstanding during the period, which excludes the participating securities. Diluted earnings per common share include the dilutive effect, if any, of additional potential common shares issuable under the Company’s equity incentive plan, computed using the treasury stock method. The Company had no dilutive securities for the three and six months ended June 30, 2026 and June 30, 2025.


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2026		2025		2026		2025
Basic
Net income	$	14,315	$	11,015	$	29,304	$	21,183
Less allocation of earnings and dividends to participating securities		54		45		84		72
Net income available to common shareholders—basic	$	14,261	$	10,970	$	29,220	$	21,111
Weighted average common shares outstanding		20,786,101		15,524,490		20,765,913		15,506,750
Less average participating securities		79,006		96,692		59,198		81,784
Weighted average number of shares outstanding used in the calculation of basic earnings per common share		20,707,095		15,427,798		20,706,715		15,424,966
Earnings per common share:
Basic	$	0.69	$	0.71	$	1.41	$	1.37
Diluted		0.69		0.71		1.41		1.37