Earnings Per Share

6 Months Ended

Jun. 30, 2025

Note 8—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 restricted stock awards using the treasury stock method. Shares are excluded from the computations of diluted earnings per share when their inclusion has an anti-dilutive effect. For the three and six months ended June 30, 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 June 30,
(Dollars in thousands, except share and per share amounts)	2025		2024

Net income	$	23,055	$	21,767

Weighted average common shares outstanding for basic earnings per common share		697,332		740,752
Dilutive potential common shares		2,520		-
Shares used in computing diluted earnings per common share		699,852		740,752

Basic earnings per share	$	33.06	$	29.39
Diluted earnings per share	$	32.94	$	29.39

	Six Months Ended June 30,
(Dollars in thousands, except share and per share amounts)	2025		2024

Net income	$	46,064	$	44,490

Weighted average common shares outstanding for basic earnings per common share		698,527		742,150
Dilutive potential common shares		1,575		-
Shares used in computing diluted earnings per common share		700,102		742,150

Basic earnings per share	$	65.94	$	59.95
Diluted earnings per share	$	65.80	$	59.95