Earnings Per Share

6 Months Ended

Jun. 30, 2026

Note 7 – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share.

	Three Months Ended				Six Months Ended
	June 30				June 30
(in thousands except per share data)	2026		2025		2026		2025
Numerator:
Net income	$	29,623	$	24,899	$	56,815	$	46,871

Denominator:
Basic earnings per share:
Weighted average shares		18,064		18,012		18,056		18,004
Diluted earnings per share:
Dilutive effect of equity grants		35		24		34		25
Adjusted weighted average shares		18,099		18,036		18,090		18,029

Earnings per share:
Basic earnings per share	$	1.64	$	1.38	$	3.15	$	2.60
Diluted earnings per share		1.64		1.38		3.14		2.60

There were no options to purchase common shares that were excluded from the diluted calculations above for the three and six months ended June 30, 2026 and 2025. Unvested restricted stock grants were used in the calculation of diluted earnings per share based on the treasury method.