Income and Dividends Per Share of Common Stock (Tables)

6 Months Ended

Jun. 30, 2025

Income and Dividends Per Share of Common Stock

Schedule of computation of basic and diluted income per common share

The following table sets forth the computation of basic and diluted income per common share (in thousands, except per share amounts):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2025		2024		2025		2024
Net income for basic and diluted income per common share	$	30,831	$	26,057	$	64,944	$	48,496
Weighted-average shares for basic income per common share		28,637		28,590		28,630		28,564
Effect of dilutive securities:
Employee and director stock options(1)		92		108		98		97
Adjusted weighted-average shares and assumed exercises for diluted income per common share		28,729		28,698		28,728		28,661
Basic net income per common share	$	1.08	$	0.91	$	2.27	$	1.70
Diluted net income per common share	$	1.07	$	0.91	$	2.26	$	1.69

(1) Excludes 2 and 1 stock options for the three- and six-month periods ended June 30, 2025, respectively, as anti-dilutive because the exercise price exceeded the average per share market price for the period. No stock options were excluded for the 2024 periods due to being anti-dilutive.