v3.26.1
Earnings per Share
 6 Months Ended
Jun. 30, 2026
Earnings per share:  
Earnings per Share

 

6. Earnings per Share

 

Basic earnings per share have been computed based upon the weighted average number of common shares outstanding during each period. Diluted earnings per share included the effect of all potential common shares outstanding during each period. The diluted earnings per share computation for both the three and six months ended June 30, 2026 and 2025 included all unexercised stock options, as no stock options were determined to be anti-dilutive during such periods. The Company’s Board of Directors declared a cash dividend of $0.21 per share to be paid August 27, 2026, to common stockholders of record as of the close of business on August 13, 2026. The shares used in the calculation of basic and diluted earnings per share for the periods indicated are shown below:

 

   2026   2025   2026   2025 
   Three months ended   Six months ended 
(Dollars in thousands, except per share amounts)  June 30,   June 30, 
   2026   2025   2026   2025 
Net earnings  $5,392   $4,404   $10,458   $9,105 
                     
Weighted average common shares outstanding - basic (1)   6,098,229    6,071,683    6,090,791    6,069,977 
Assumed exercise of stock options (1)   63,232    61,286    59,068    49,260 
Weighted average common shares outstanding - diluted (1)   6,161,461    6,132,969    6,149,859    6,119,236 
Earnings per share (1):                    
Basic   $0.88   $0.73   $1.72   $1.50 
Diluted   $0.88   $0.72   $1.70   $1.49 

 

(1)Share and per share values for the periods ended June 30, 2025 have been adjusted to give effect to the 5% stock dividend paid during December 2025.