Earnings Per Share

3 Months Ended

Mar. 31, 2026

EARNINGS PER SHARE

The following table sets forth the computation of the basic and diluted earnings per share (in thousands, except per share data):


	Three months ended March 31,
		2026		2025
Numerator for basic and diluted earnings per share:
Net income		$	13,492	$	20,926
Less: Earnings allocated to unvested restricted stock		(182)		(347)
Income attributable to common stockholders		$	13,310	$	20,579

Denominator:
Denominator for basic earnings per common share – weighted average shares outstanding		15,568		15,243
Effect of dilutive securities:
Stock options		211		146


Denominator for diluted earnings per common share – weighted average shares outstanding		15,779		15,389

Basic earnings per common share:		$	0.86	$	1.35
Diluted earnings per common share:		$	0.84	$	1.34

Stock options excluded from the computation of diluted earnings per share because the inclusion of such stock options would result in an antidilutive effect are as follows (in thousands):


	Three months ended March 31,
		2026	2025
Antidilutive stock options		218	189	X