v3.26.1
Note 11 - Earnings Per Share
6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

11. Earnings per Share

 

Basic earnings per share excludes dilution and is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for 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 and resulted in the issuance of common stock that then shared in earnings. Restricted stock units (“RSUs”) with anti-dilutive effect were not included in the computation of diluted earnings per share. The following table sets forth earnings per common share calculations:

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 

($ In thousands, except share and per share data)

 

2026

  

2025

  

2026

  

2025

 
                 

Net income

 $92,209  $77,450  $179,095  $146,956 
                 

Weighted-average shares:

                

Basic weighted-average number of common shares outstanding

  67,014,700   69,989,825   67,004,055   70,183,752 

Dilutive effect of weighted-average outstanding common share equivalents:

                

RSUs

  290,146   199,077   318,507   249,164 

Diluted weighted-average number of common shares outstanding

  67,304,846   70,188,902   67,322,562   70,432,916 
                 

Average restricted stock units with anti-dilutive effect

  5,721   6,454   3,194   24,438 

Earnings per common share:

                

Basic

 $1.38  $1.11  $2.67  $2.09 

Diluted

 $1.37  $1.10  $2.66  $2.09