Earnings Per Share

12 Months Ended

Dec. 31, 2025

The Company, with its two classes of common stock, applies the two-class method of computing income per share. The two-class method requires the calculation of separate income per share amounts for the nonvested share-based awards and for common stock. The income per share attributable to common stock is shown in the following table.

Nonvested share-based awards vest subject to the satisfaction of service conditions and are subject to forfeiture until such service conditions are met. The nonvested share-based awards are not considered securities which participate in undistributed earnings with common stock. However, dividends or dividend equivalents actually declared or paid and charged to retained earnings for unvested awards with forfeitable rights to dividends reduces income available to common shareholders as these amounts reflect dividends that have been allocated to other-than-common-stockholders and reduce the amount available for distribution to the common stockholders.

Basic income per share is based on the weighted average number of common shares outstanding during the year. Diluted income per share gives effect to all dilutive potential common shares that were outstanding during the year. Since the nonvested share-based awards are subject to forfeiture, the shares are excluded from both the basic and diluted income per share computation. Presented below is a summary of the components used to calculate basic and diluted income per common share:


	For the years ended December 31,
	2025		2024
	(dollars in thousands, except per share data)
Basic income per share:
Net income attributable to Central Bancompany, Inc.	$	390,853	$	305,810
Less: Dividends declared on forfeitable nonvested restricted stock	667		120
Net income allocated to common stock	$	390,186	$	305,690
Weighted average common shares outstanding	222,352		220,589
Basic income per common share	$	1.75	$	1.39
Diluted income per common share:
Net income attributable to Central Bancompany, Inc.	$	390,853	$	305,810
Less: Dividends declared on forfeitable nonvested restricted stock	667		120
Net income allocated to common stock	$	390,186	$	305,690
Weighted average diluted common shares outstanding	222,352		220,589
Diluted income per common share:	$	1.75	$	1.39

The Company is permitted, by authorization of the Board of Directors, to repurchase shares of the Company’s common stock. The authorization in June 2023 approved purchases until June 30, 2025, for a purchase price of not more than $25.0 million in aggregate. The Company opted not to purchase all authorized shares, with $12 million unutilized.

The table below shows activity in the outstanding shares of the Company’s common stock during the years ended December 31, 2025 and 2024.


	December 31,
	2025	2024
	(shares in thousands)
Shares outstanding at beginning of year	220,385	220,956
Issuance of stock-based compensation	276	318
Purchases of treasury stock	-	(889)
Initial public offering	20,445	-
Shares outstanding at end of year	241,106	220,385