The Company computes earnings per share (EPS) in accordance with FASB Accounting Standards Codification (ASC) Topic 260, Earnings Per Share. The Company has no participating unvested common shares which contain nonforfeitable rights to dividends and applies the treasury stock method in computing basic and diluted EPS.

Basic EPS is calculated by dividing net income by the weighted average number of common shares outstanding during the period.

The diluted EPS calculation includes potential common shares assumed issued under the treasury stock method, which reflects the potential dilution that would occur if any restricted stock or RSUs vest.


	Three Months Ended
	March 31,
	2026		2025
	(in thousands, except share and per share amounts)
Basic EPS:
Net income	$	8,145	$	8,949
Basic weighted average common shares		18,759,526		19,036,309
Basic earnings per common share	$	0.43	$	0.47
Diluted EPS:
Net income	$	8,145	$	8,949
Diluted weighted average common shares:
Weighted average common shares		18,759,526		19,036,309
Restricted stock and RSUs		103,869		118,117
Diluted weighted average common shares		18,863,395		19,154,426
Diluted earnings per common share	$	0.43	$	0.47