Earnings Per Share

3 Months Ended

Mar. 31, 2025

Note 7—Earnings Per Share

Basic earnings per common share is computed by dividing net earnings allocated to common shareholders by the weighted average number of common shares outstanding during the applicable period. Diluted earnings per common share is computed using the weighted average number of shares determined for the basic earnings per common share computation plus the dilutive effects of outstanding retricted stock awards using the treasury stock mehtod. Shares are excluded from the computations of diluted earnings per share when their inclusion has an anti-dilutive effect. For the three months ended March 31, 2025, there were no potential common shares that were anti-dilutive.

The following table presents the factors used in the earnings per share computation for the periods indicated:

	Three Months Ended March 31,
(Dollars in thousands, except per share amounts)	2025		2024
Net income	$	23,009	$	22,723

Weighted average common shares outstanding
For basic earnings per common share		699,736		743,515
Dilutive potential common shares		479		-
Shares used in computing diluted earnings per common share		700,215		743,515

Basic earnings per common share	$	32.88	$	30.56
Diluted earnings per common share	$	32.86	$	30.56