| EARNINGS PER SHARE |
NOTE 8. EARNINGS PER SHARE The following table presents the calculation of earnings per share: | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 30, | | September 30, | (in thousands, except per share and share data) | | 2026 | | 2025 | | 2026 | | 2025 | Net income | | $ | 16,089 | | $ | 8,855 | | $ | 44,847 | | $ | 25,158 | | | | | | | | | | | | | | Average number of basic common shares outstanding(1) | | | 16,764,502 | | | 16,230,758 | | | 16,748,495 | | | 15,621,752 | Plus: dilutive effect of stock options and awards outstanding | | | 63,338 | | | 52,862 | | | 66,001 | | | 63,463 | Average number of diluted common shares outstanding(2)(3) | | | 16,827,840 | | | 16,283,620 | | | 16,814,496 | | | 15,685,215 | | | | | | | | | | | | | | Earnings per share: | | | | | | | | | | | | | Basic | | $ | 0.96 | | $ | 0.55 | | $ | 2.68 | | $ | 1.61 | Diluted | | | 0.96 | | | 0.54 | | | 2.67 | | | 1.60 |
| (1) | In the third quarter of 2025, the Company issued 1,350,464 shares of common stock in consideration for the acquisition of Guaranty. |
| (2) | Average diluted shares outstanding are computed using the treasury stock method. |
| (3) | The Companya had no anti-dilutive shares for the periods presented. |
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