Note 17 - Earnings Per Share

6 Months Ended

Jun. 30, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 17 Earnings Per Share

The calculations of basic and diluted earnings per share using the two-class method for the three and six months ended June 30, 2025 and 2024 are presented below:

	Three months ended				Six months ended
	June 30,				June 30,
(dollars and shares in thousands, except per share data)	2025		2024		2025		2024
Net income	$	20,253	$	6,208	$	33,567	$	12,640
Dividends and undistributed earnings allocated to participating securities		205		38		298		78
Net income available to common stockholders	$	20,048	$	6,170	$	33,269	$	12,562
Weighted-average common shares outstanding for basic earnings per share		25,368		19,777		25,363		19,758
Dilutive effect of stock-based awards		346		273		320		260
Weighted-average common shares outstanding for diluted earnings per share		25,714		20,050		25,683		20,018
Earnings per common share:
Basic earnings per common share	$	0.79	$	0.31	$	1.31	$	0.64
Diluted earnings per common share	$	0.78	$	0.31	$	1.30	$	0.63

There were no antidilutive shares for the three and six months ended June 30, 2025 and 2024.