PER SHARE DATA

3 Months Ended

Mar. 31, 2025

PER SHARE DATA

PER SHARE DATA

2. PER SHARE DATA

Earnings per common share are calculated using the two-class method to determine income attributable to common shareholders. Unvested restricted stock awards that contain nonforfeitable rights to dividends are considered participating securities under the two-class method. Distributed dividends and an allocation of undistributed net income to participating securities reduce the amount of income attributable to common shareholders. Income attributable to common shareholders is then divided by weighted-average common shares outstanding for the period to determine basic earnings per common share. The Corporation’s basic and diluted earnings per share are the same because there are no potential dilutive shares of common stock outstanding.

(In Thousands, Except Share and Per Share Data)	Three Months Ended
	March 31,		March 31,
	2025		2024
Net income	$	6,293	$	5,306
Less: Dividends and undistributed earnings allocated to participating securities		(51)		(39)
Net income attributable to common shares	$	6,242	$	5,267
Weighted-average common shares outstanding		15,338,532		15,230,580
Earnings per common share - Basic and Diluted	$	0.41	$	0.35
Weighted-average nonvested restricted shares outstanding		125,303		113,084