v3.26.1
Stockholders' Equity
 6 Months Ended
Jun. 30, 2026
Text Block [Abstract]  
Stockholders' Equity Stockholders’ Equity
(a) Earnings Per Common Share
The following table illustrates the calculation of weighted average shares used for earnings per common share computations for the periods indicated:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
(Dollars in thousands, except shares)
Net income allocated to common shareholders$17,546 $12,215 $36,493 $26,126 
Basic:
Weighted average common shares outstanding41,079,781 34,028,592 39,888,198 34,037,067 
Diluted:
Basic weighted average common shares outstanding41,079,781 34,028,592 39,888,198 34,037,067 
Effect of potentially dilutive common shares(1)
461,982 418,118 476,166 475,193 
Total diluted weighted average common shares outstanding41,541,763 34,446,710 40,364,364 34,512,260 
Potentially dilutive shares that were excluded from the computation of diluted earnings per share because to do so would be anti-dilutive(2)
19,873 71,614 16,396 27,280 
(1) Represents the effect of the vesting of restricted stock units.
(2) Anti-dilution occurs when the unrecognized compensation cost per share of a restricted stock unit exceeds the market price of the Company’s stock.
(b) Dividends
The timing and amount of cash dividends paid on the Company's common stock depends on the Company’s earnings, capital requirements, financial condition and other relevant factors. Dividends on common stock from the Company depend substantially upon the receipt of dividends from the Bank, which is the Company’s predominant source of income.
The following table summarizes the dividend activity during the six months ended June 30, 2026 and the calendar year 2025:
DeclaredCash Dividend per ShareRecord DatePaid Date
January 22, 2025$0.24February 6, 2025February 20, 2025
April 23, 2025$0.24May 7, 2025May 21, 2025
July 23, 2025$0.24August 6, 2025August 20, 2025
October 22, 2025$0.24November 5, 2025November 19, 2025
DeclaredCash Dividend per ShareRecord DatePaid Date
January 16, 2026$0.24January 28, 2026February 11, 2026
April 22, 2026$0.24May 6, 2026May 20, 2026
The FDIC and the DFI have the authority under their supervisory powers to prohibit the payment of dividends by the Bank to the Company. Additionally, current guidance from the Federal Reserve provides, among other things, that dividends per share on the Company’s common stock generally should not exceed earnings per share, measured over the previous four fiscal quarters. Current regulations allow the Company and the Bank to pay dividends on their common stock if the Company’s or the Bank’s regulatory capital would not be reduced below the statutory capital requirements set by the Federal Reserve and the FDIC.
(c) Stock Repurchase Program
On April 24, 2024, the Board authorized the repurchase of up to 5% of the Company's outstanding common shares or 1,734,492 shares in total, under a new stock repurchase program (the "Repurchase Program"), with 424,489 shares remaining available for repurchase as of June 30, 2026. The Repurchase Program superseded a previous stock repurchase program, authorized in March 2020. The Repurchase Program does not obligate the Company to repurchase any shares of its common stock, and other than repurchases that have been completed to date, there is no assurance that the Company will make any further repurchases going forward. Under the Repurchase Program, the Company may repurchase shares of common stock from time to time in open market or privately negotiated transactions. The number, timing and price of shares repurchased will depend on business and market conditions, regulatory requirements, availability of funds, and other factors, including opportunities to deploy the Company's capital. The Company may, in its discretion, begin, suspend or terminate repurchases at any time prior to the Repurchase Program’s expiration, without any prior notice.