| Reconciliation of Components Used to Derive Basic and Diluted EPS |
The following table is a reconciliation of the components used to derive basic and diluted EPS for the periods indicated:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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(dollars in thousands, except per share and unit amounts) |
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Basic EPS |
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Net income |
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$ |
23,505 |
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$ |
15,117 |
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$ |
46,062 |
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$ |
32,789 |
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Less: income allocated to unvested restricted stock |
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167 |
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122 |
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355 |
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272 |
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Income allocated to common shares |
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$ |
23,338 |
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$ |
14,995 |
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$ |
45,707 |
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$ |
32,517 |
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Weighted-average shares for basic EPS |
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29,514,712 |
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29,948,836 |
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29,593,872 |
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29,943,279 |
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Basic EPS (1) |
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$ |
0.79 |
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$ |
0.50 |
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$ |
1.54 |
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$ |
1.09 |
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Effect of dilutive PSUs |
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174,401 |
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105,620 |
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176,173 |
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105,425 |
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Diluted EPS |
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Income allocated to common shares |
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$ |
23,338 |
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$ |
14,995 |
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$ |
45,707 |
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$ |
32,517 |
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Weighted-average shares for diluted EPS |
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29,689,113 |
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30,054,456 |
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29,770,045 |
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30,048,704 |
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Diluted EPS (1) |
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$ |
0.79 |
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$ |
0.50 |
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$ |
1.54 |
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$ |
1.08 |
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(1)Per share amounts may not be able to be recalculated using net income and weighted-average shares presented above due to rounding.
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