Shareholders’ Equity (Tables)

6 Months Ended

Jun. 30, 2026


Table 7.1: EPS
	Three months ended				Six months ended
(in thousands, except share and per share data)	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Net income	$	19,399	$	14,508	$	38,020	$	27,619

Basic weighted average common shares outstanding	21,273,902		21,225,831		21,263,551		21,217,900
Add: Dilutive effects of assumed vesting of restricted and performance-based stock	65,001		43,434		68,178		43,570
Total dilutive weighted average common shares outstanding	21,338,903		21,269,265		21,331,729		21,261,470
Earnings per common share:
Basic EPS	$	0.91	$	0.68	$	1.79	$	1.30
Diluted EPS	$	0.91	$	0.68	$	1.78	$	1.30

Summary of Nonvested Restricted Stock Shares

Table 7.2 summarizes activity related to restricted shares for the periods indicated.


Table 7.2: Unvested RSA Activity
	For the three months ended June 30,						For the six months ended June 30,
	2026			2025			2026			2025
	Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value
Beginning of the period balance	116,103	$	24.89	111,786	$	22.08	124,747	$	23.25	120,577	$	21.36
Shares granted	26,711	42.00		31,756	27.55		35,477	41.38		42,241	28.38
Shares vested	(22,053)	22.72		(14,094)	20.00		(39,463)	22.39		(33,037)	21.33
Shares forfeited	—	—		—	—		—	—		(333)	21.97
End of the period balance	120,761	$	29.07	129,448	$	23.65	120,761	$	29.07	129,448	$	23.65

Table 7.3 summarizes information about unvested PSUs. The weighted average grant date fair value is based on the fair value at the time of grant. The vesting of PSUs is subject to achievement of specified performance targets and continued employment.


Table 7.3: Unvested PSU Activity
	For the three months ended June 30,						For the six months ended June 30,
	2026			2025			2026			2025
	Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value
Beginning of the period balance	23,110	$	31.15	—	$	—	23,110	$	31.15	—	$	—
Shares granted	25,790	42.00		—	—		25,790	42.00		—	—


End of the period balance	48,900	$	36.87	—	$	—	48,900	$	36.87	—	$	—