| Calculation of Basic and Diluted Earnings Per Share |
The table below presents basic and diluted earnings per share for the three and nine months ended September 30, 2026 and 2025.
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(In Thousands, Except Per Share Data) |
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Three Months Ended |
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Nine Months Ended |
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September 30, 2026 |
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September 30, 2025 |
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September 30, 2026 |
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September 30, 2025 |
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Earnings per share |
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Net income |
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$ |
11,538 |
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$ |
8,854 |
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$ |
32,913 |
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$ |
23,516 |
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Less: distributed earnings allocated to participating
securities |
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(42 |
) |
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(38 |
) |
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(122 |
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(115 |
) |
Less: undistributed earnings allocated to
participating securities |
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(102 |
) |
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(70 |
) |
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(288 |
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(173 |
) |
Net earnings available to common shareholders |
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$ |
11,394 |
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$ |
8,746 |
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$ |
32,503 |
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$ |
23,228 |
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Weighted average common shares outstanding
including participating securities |
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13,779,936 |
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13,733,858 |
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13,769,428 |
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13,720,168 |
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Less: average unvested restricted shares |
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(171,743 |
) |
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(167,293 |
) |
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(171,321 |
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(168,174 |
) |
Weighted average common shares outstanding |
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13,608,193 |
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13,566,565 |
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13,598,107 |
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13,551,994 |
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Basic and diluted earnings per share |
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$ |
0.84 |
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$ |
0.64 |
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$ |
2.39 |
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$ |
1.71 |
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