Earnings per share was computed using the weighted average number of common shares and common share equivalents outstanding during the period.

The following table sets forth the computation of basic and diluted earnings per share attributable to class A common shares, class A common shares designated as class A-2 common shares, and class B common shares:


	Quarters Ended June 30,				Six Months Ended June 30,
(Dollars in thousands, except share and per share data)	2026		2025		2026		2025
Numerator:
Net income	$	11,082	$	10,344	$	15,328	$	6,355
Less: preferred stock distributions		110		110		220		220
Net income available to common shareholders	$	10,972	$	10,234	$	15,108	$	6,135

Denominator:
Weighted average shares for basic earnings per share		14,379,473		14,274,926		14,365,391		14,072,225
Options		46,363		66,325		50,291		88,413
Weighted average shares for diluted earnings per share		14,425,836		14,341,251		14,415,682		14,160,638

Net income per share available to common shareholders
Basic	$	0.76	$	0.72	$	1.05	$	0.44
Diluted	$	0.76	$	0.71	$	1.05	$	0.43

The weighted average shares used to compute basic and diluted earnings per share for the quarter and six months ended June 30, 2026 do not include 230,000 non-vested class A common shares designated as class A-2 common shares. Holders of these shares are not entitled to distributions or participation in earnings prior to vesting and therefore are excluded from basic earnings per share. In addition, these shares vest only upon the occurrence of a change of control transaction subject to continued service. Because no change of control occurred during the six months ended June 30, 2026, the vesting contingency was not satisfied and the shares were excluded from diluted earnings per share. Additionally, the weighted average shares outstanding used to determine dilutive earnings per share does not include options of 650,000 for both the quarter and six months ended June 30, 2026, and 483,338 options and 283,338 options for the quarter and six months ended June 30, 2025, respectively, which were deemed to be anti-dilutive.