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