| Calculation of Basic and Diluted Earnings Per Share |
The diluted EPS calculation includes potential common shares assumed issued under the treasury stock method, which reflects the potential dilution that would occur if any restricted stock or RSUs vest.
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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, |
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2026 |
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2025 |
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2026 |
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2025 |
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(in thousands, except share and per share amounts) |
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Basic EPS: |
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Net income |
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$ |
7,196 |
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$ |
13,818 |
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$ |
29,936 |
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$ |
36,722 |
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Basic weighted average common shares |
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18,516,539 |
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18,980,807 |
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18,617,768 |
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19,018,293 |
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Basic earnings per common share |
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$ |
0.39 |
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$ |
0.73 |
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$ |
1.61 |
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$ |
1.93 |
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Diluted EPS: |
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Net income |
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$ |
7,196 |
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$ |
13,818 |
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$ |
29,936 |
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$ |
36,722 |
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Diluted weighted average common shares: |
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Weighted average common shares |
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18,516,539 |
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18,980,807 |
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18,617,768 |
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19,018,293 |
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Restricted stock and RSUs |
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123,404 |
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91,254 |
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142,552 |
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88,263 |
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Diluted weighted average common shares |
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18,639,943 |
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19,072,061 |
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18,760,320 |
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19,106,556 |
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Diluted earnings per common share |
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$ |
0.39 |
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$ |
0.72 |
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$ |
1.60 |
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$ |
1.92 |
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