Basic earnings per common share is calculated by dividing net income allocated to common shareholders by the weighted average number of shares of common stock outstanding, less average participating shares during the period. Diluted earnings per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity.


	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in Thousands, except share and per share data)	2026		2025		2026		2025
Numerator for Earnings per Common Share – Basic and Diluted
Net Income	$	28,911	$	8,510	$	114,668	$	17,463
Less: Income allocated to Participating Shares	402		97		1,514		190
Net Income Allocated to Common Shareholders - Basic & Diluted	$	28,509	$	8,413	$	113,154	$	17,273

Distributed Earnings allocated to Common Stock	$	2,188	$	—	$	2,189	$	—
Undistributed Earnings allocated to Common Stock	26,321		8,413		110,965		17,273
Net income allocated to Common Shareholders - Basic & Diluted	$	28,509	$	8,413	$	113,154	$	17,273

Denominator:
Weighted Average Shares Outstanding, including Shares Considered Participating Shares	22,146,599		23,067,260		22,134,757		23,090,907
Less: Average Participating Shares	307,954		261,379		292,260		251,495
Weighted Average Common Shares Outstanding - Basic & Diluted	21,838,645		22,805,881		21,842,497		22,839,412

Earnings per Common Share – Basic	$	1.31	$	0.37	$	5.18	$	0.76
Earnings per Common Share – Diluted	$	1.31	$	0.37	$	5.18	$	0.76