| Reconciliation of Components Used to Derive Basic and Diluted EPS |
The following table is a reconciliation of the components used to derive basic and diluted EPS for the periods indicated:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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(dollars in thousands, except per share and unit amounts) |
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Basic EPS |
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Net income |
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$ |
23,683 |
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$ |
22,061 |
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$ |
69,745 |
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$ |
54,850 |
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Less: income allocated to unvested restricted stock |
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164 |
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176 |
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510 |
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450 |
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Income allocated to common shares |
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$ |
23,519 |
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$ |
21,885 |
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$ |
69,235 |
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$ |
54,400 |
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Weighted-average shares for basic EPS |
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29,388,692 |
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29,830,475 |
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29,509,964 |
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29,905,265 |
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Basic EPS (1) |
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$ |
0.80 |
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$ |
0.73 |
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$ |
2.35 |
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$ |
1.82 |
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Effect of dilutive PSUs |
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181,166 |
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50,390 |
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180,088 |
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50,101 |
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Diluted EPS |
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Income allocated to common shares |
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$ |
23,519 |
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$ |
21,885 |
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$ |
69,235 |
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$ |
54,400 |
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Weighted-average shares for diluted EPS |
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29,569,858 |
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29,880,865 |
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29,690,052 |
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29,955,366 |
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Diluted EPS (1) |
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$ |
0.80 |
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$ |
0.73 |
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$ |
2.33 |
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$ |
1.82 |
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(1)Per share amounts may not be able to be recalculated using net income and weighted-average shares presented above due to rounding.
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