| Earnings per Share |
Note 5 – Earnings per Share The computation of earnings per share, as presented in the Consolidated Statements of Income, is based on the weighted average number of shares outstanding during each period, excluding unvested restricted stock awards. The Company’s earnings per share activity for the three and six months ended June 30, 2026 and 2025, is summarized below (dollars in thousands, except per share data, unaudited): | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Basic Earnings Per Share | | | | | | | | | | | | | Net income | | $ | 9,919 | | $ | 10,633 | | $ | 22,439 | | $ | 19,734 | Weighted average shares outstanding | | | 12,848,133 | | | 13,563,910 | | | 12,917,542 | | | 13,692,003 | Basic earnings per share | | $ | 0.77 | | $ | 0.78 | | $ | 1.74 | | $ | 1.44 | | | | | | | | | | | | | | Diluted Earnings Per Share | | | | | | | | | | | | | Net income | | $ | 9,919 | | $ | 10,633 | | $ | 22,439 | | $ | 19,734 | Weighted average shares outstanding | | | 12,848,133 | | | 13,563,910 | | | 12,917,542 | | | 13,692,003 | Effect of dilutive equity awards | | | 110,994 | | | 73,342 | | | 110,351 | | | 85,003 | Weighted average shares outstanding | | | 12,959,127 | | | 13,637,252 | | | 13,027,893 | | | 13,777,006 | Diluted earnings per share | | $ | 0.77 | | $ | 0.78 | | $ | 1.72 | | $ | 1.43 | | | | | | | | | | | | | | Anti-dilutive equity awards | | | 2,460 | | | 265,885 | | | 23 | | | 47,798 |
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