Earnings Per Common Share

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Earnings Per Common Share

16.Earnings Per Common Share

Basic earnings per common share is computed by dividing net earnings allocated to common stock by the weighted-average number of common shares outstanding during the applicable period. Diluted earnings per common share is computed by using the net earnings allocated to common stock plus dividends on dilutive convertible preferred stock, divided by the sum of 1) the weighted-average number of shares determined for the basic earnings per common share computation, 2) the dilutive effect of stock compensation using the treasury stock method, and 3) the dilutive effect of convertible preferred stock using the if-converted method.

The following table presents a reconciliation of net income available to common shareholders and the number of shares used in the calculation of basic and diluted earnings per common share shown on the consolidated statements of income:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(Dollars in thousands, except share and per share data)	2025		2024		2025		2024
Net income	$	18,057	$	12,775	$	48,393	$	33,938
Less dividends declared, Series A Preferred Stock		1,197		1,198		3,553		3,553
Net income available to common shareholders	$	16,860	$	11,577	$	44,840	$	30,385
Weighted-average shares outstanding for basic earnings per common share		13,860,149		13,665,400		13,824,963		13,643,042
Dilutive effect of stock compensation and other dilutive securities		3,664,139		3,519,591		3,627,422		3,403,598
Weighted-average shares outstanding for diluted earnings per common share		17,524,288		17,184,991		17,452,385		17,046,640
Basic earnings per share	$	1.22	$	0.85	$	3.24	$	2.23
Diluted earnings per share	$	1.03	$	0.74	$	2.77	$	1.99