Earnings Per Share

9 Months Ended

Sep. 30, 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 September 30,				Nine months ended September 30,
	2026		2025		2026		2025
Numerator for basic and diluted earnings per share:
Net income	$	8,880	$	6,570	$	34,644	$	39,235
Less: Earnings allocated to unvested restricted stock	(63)		(107)		(346)		(592)
Income attributable to common stockholders	$	8,817	$	6,463	$	34,298	$	38,643

Denominator:
Denominator for basic earnings per common share – weighted average shares outstanding	15,667		15,490		15,629		15,398
Effect of dilutive securities:
Stock options	88		242		160		203


Denominator for diluted earnings per common share – weighted average shares outstanding	15,755		15,732		15,789		15,601

Basic earnings per common share:	$	0.56	$	0.42	$	2.19	$	2.51
Diluted earnings per common share:	$	0.56	$	0.41	$	2.17	$	2.47

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 September 30,		Nine months ended September 30,
	2026	2025	2026	2025
Antidilutive stock options	194	222	207	224