v3.26.3
Earnings Per Share
9 Months Ended
Sep. 30, 2026
Earnings Per Share  
Earnings Per Share

Note 2: Earnings Per Share

Basic earnings per common share are computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per common share are computed by dividing net income available to common shareholders by the weighted average number of common shares, adjusted for the dilutive effect of stock compensation. For the three and nine months ended September 30, 2026, stock options, restricted stock units, and performance stock units totaling 141,652 and 99,753, respectively, were excluded from the calculation because they were deemed to be anti-dilutive. For the three and nine months ended September 30, 2025, stock options and restricted stock units totaling 570,500 and 535,450, respectively, were excluded from the calculation because they were deemed to be anti-dilutive.

The following table presents the numerators and denominators for basic and diluted earnings per share computations for the three and nine months ended September 30, 2026 and 2025:

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Three Months Ended

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Nine Months Ended

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September 30, 

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September 30, 

(dollars in thousands, except per share data)

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2026

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2025

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2026

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2025

Net Income Available to Common Shareholders

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$

14,015

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$

10,588

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$

43,401

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$

29,714

Weighted Average Common Stock Outstanding:

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Weighted Average Common Stock Outstanding (Basic)

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27,923,824

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27,504,840

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27,862,266

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27,511,297

Dilutive Effect of Stock Compensation

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872,552

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685,566

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781,953

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578,112

Weighted Average Common Stock Outstanding (Dilutive)

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28,796,376

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28,190,406

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28,644,219

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28,089,409

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Basic Earnings per Common Share

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$

0.50

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$

0.38

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$

1.56

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$

1.08

Diluted Earnings per Common Share

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0.49

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0.38

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1.52

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1.06

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