Earnings Per Share

6 Months Ended

Jun. 30, 2025

(2) Earnings Per Share

The Company computes earnings per share in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share (“ASC 260”). A reconciliation of the component parts of earnings per share for the three and six months ended June 30, 2025 and 2024 is as follows:

(in thousands, except per share data)	For the three months ended				For the six months ended
	June 30,				June 30,
	2025		2024		2025		2024

Net income	$	15,039	$	12,551	$	29,314	$	24,677
Weighted average common shares		18,965		19,022		18,992		19,023
Effect of Dilutive Securities:
Stock Options and Restricted Stock Units		29		11		27		10
Weighted average common shares including potential dilutive shares		18,994		19,033		19,019		19,033

Basic EPS	$	0.79	$	0.66	$	1.54	$	1.30

Diluted EPS	$	0.79	$	0.66	$	1.54	$	1.30

For both the three and six months ended June 30, 2025 there were approximately 8 thousand weighted average anti-dilutive stock options excluded from diluted earnings per share. The stock options are antidilutive because the strike price is greater than the average fair value of the Company’s common stock for the periods presented.