| Earnings Per Share |
Earnings Per Share The following table presents the computations of basic and diluted earnings per share (“EPS”) for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | ($ in thousands, except per share) | | 2026 | | 2025 | | 2026 | | 2025 | Basic earnings per share: | | | | | | | | | | Net income available to common shareholders | | $ | 10,420 | | | $ | 8,984 | | | $ | 20,987 | | | $ | 16,679 | | Less: income allocated to unvested restricted stock | | (63) | | | (72) | | | (127) | | | (133) | | Net income allocated to common stock | | $ | 10,357 | | | $ | 8,912 | | | $ | 20,860 | | | $ | 16,546 | | Weighted-average total common shares outstanding | | 14,193,140 | | | 14,327,132 | | | 14,210,472 | | | 14,356,613 | | Less: weighted-average unvested restricted stock | | (85,850) | | | (114,100) | | | (85,877) | | | (114,127) | | Weighted-average common shares outstanding, basic | | 14,107,290 | | | 14,213,032 | | | 14,124,595 | | | 14,242,486 | | Basic earnings per share | | $ | 0.73 | | | $ | 0.63 | | | $ | 1.48 | | | $ | 1.16 | | Diluted earnings per share: | | | | | | | | | Net income allocated to common stock | | $ | 10,357 | | | $ | 8,912 | | | $ | 20,860 | | | $ | 16,546 | | Weighted-average common shares outstanding, basic | | 14,107,290 | | | 14,213,032 | | | 14,124,595 | | | 14,242,486 | | Diluted effect of stock options | | 113,124 | | | 112,979 | | | 106,643 | | | 122,509 | | Weighted-average common shares outstanding, diluted | | 14,220,414 | | | 14,326,011 | | | 14,231,238 | | | 14,364,995 | | Diluted earnings per share | | $ | 0.73 | | | $ | 0.62 | | | $ | 1.47 | | | $ | 1.15 | | | | | | | | | | |
There were 5,000 and 60,000 stock options excluded in computing diluted EPS because they were anti-dilutive for the three months ended June 30, 2026 and 2025, respectively. For the six months ended June 30, 2026 and 2025, there were 5,000 and 60,000 stock options excluded in computing diluted EPS because they were anti-dilutive, respectively.
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