| Earnings per Share |
Earnings per Share The following table sets forth the computation of basic and diluted earnings per share using the two class method (in thousands, except per share data): | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | | 2026 | 2025 | | 2026 | 2025 | | Net income available to common shareholders | $ | 34,609 | | $ | 35,188 | | | $ | 99,642 | | $ | 98,917 | | | Less: earnings allocated to participating securities | (449) | | (323) | | | (975) | | (864) | | | Net earnings allocated to common shareholders | $ | 34,160 | | $ | 34,865 | | | $ | 98,667 | | $ | 98,053 | | | | | | | | | Distributed earnings allocated to common stock | $ | 13,938 | | $ | 12,495 | | | $ | 38,188 | | $ | 35,186 | | | Undistributed earnings allocated to common stock | 20,222 | | 22,370 | | | 60,479 | | 62,867 | | | Net earnings allocated to common shareholders | $ | 34,160 | | $ | 34,865 | | | $ | 98,667 | | $ | 98,053 | | | | | | | | | Average shares outstanding | 14,027 | | 14,457 | | | 14,109 | | 14,512 | | | Effect of dilutive securities: | | | | | | | Employee stock awards | 22 | | 6 | | | 19 | | 9 | | | Shares for diluted earnings per share | 14,049 | | 14,463 | | | 14,128 | | 14,521 | | | | | | | | | Basic earnings per share | $ | 2.44 | | $ | 2.41 | | | $ | 6.99 | | $ | 6.76 | | | Diluted earnings per share | $ | 2.43 | | $ | 2.41 | | | $ | 6.98 | | $ | 6.75 | |
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