| Schedule of Earnings Per Share, Basic Two Class Method |
The table below provides a reconciliation of the combined Class A and Class B Common Stock numerators and denominators of the earnings per share computations (dollars in thousands, except per share data). The number of basic and diluted shares are the same because there are no potentially dilutive instruments. | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Net Income | $ | 9,512 | | | $ | 4,584 | | | $ | 16,584 | | | $ | 10,191 | | | Dividends declared on common stock | | | | | | | | | Class A Common Stock | — | | | — | | | — | | | — | | | Class B Common Stock | — | | | — | | | — | | | — | | | Undistributed net income for basic and diluted earnings per share | $ | 9,512 | | | $ | 4,584 | | | $ | 16,584 | | | $ | 10,191 | | | | | | | | | | | Weighted average shares outstanding | | | | | | | | | Class A Common Stock | 3,372,321 | | | 3,125,918 | | | 3,343,145 | | | 3,107,466 | | | Class B Common Stock | 3,189,496 | | | 3,435,899 | | | 3,218,672 | | | 3,454,351 | | | Weighted average shares outstanding, basic and dilutive | 6,561,817 | | | 6,561,817 | | | 6,561,817 | | | 6,561,817 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Earnings per common share, basic and diluted | | | | | | | | | Class A Common Stock | | | | | | | | | Per share dividends distributed | $ | — | | | $ | — | | | $ | — | | | $ | — | | | Undistributed earnings per share | 1.45 | | | 0.70 | | | 2.53 | | | 1.55 | | | Total basic and diluted earnings per share - Class A Common Stock | $ | 1.45 | | | $ | 0.70 | | | $ | 2.53 | | | $ | 1.55 | | | | | | | | | | | Class B Common Stock | | | | | | | | | Per share dividends distributed | $ | — | | | $ | — | | | $ | — | | | $ | — | | | Undistributed earnings per share | 1.45 | | | 0.70 | | | 2.53 | | | 1.55 | | | Total basic and diluted earnings per share - Class B Common Stock | $ | 1.45 | | | $ | 0.70 | | | $ | 2.53 | | | $ | 1.55 | |
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