Note 11 - Earnings Per Share

9 Months Ended

Sep. 30, 2026

Notes to Financial Statements

Earnings Per Share [Text Block]

11. Earnings per Share

Basic earnings per share excludes dilution and is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and resulted in the issuance of common stock that then shared in earnings. Restricted stock units (“RSUs”) with anti-dilutive effect were not included in the computation of diluted earnings per share. The following table sets forth earnings per common share calculations:

	Three Months Ended September 30,				Nine Months Ended September 30,
($ In thousands, except share and per share data)	2026		2025		2026		2025
Net income	$	95,174	$	77,651	$	274,269	$	224,607
Weighted-average shares:
Basic weighted-average number of common shares outstanding		66,499,705		68,727,390		66,832,009		69,692,964
Dilutive effect of weighted-average outstanding common share equivalents:
RSUs		261,692		263,258		299,361		253,913
Diluted weighted-average number of common shares outstanding		66,761,397		68,990,648		67,131,370		69,946,877
Average restricted stock units with anti-dilutive effect		—		546		2,118		16,387
Earnings per common share:
Basic	$	1.43	$	1.13	$	4.10	$	3.22
Diluted	$	1.43	$	1.13	$	4.09	$	3.21