EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2025

The following table presents the factors used in the earnings per share computations for the period indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Basic
Net income available to common shareholders	$	17,990	$	16,552	$	53,106	$	48,023
Less: Earnings allocated to participating securities		(86)		(87)		(259)		(257)
Net income allocated to common shareholders	$	17,904	$	16,465	$	52,847	$	47,766

Weighted average common shares outstanding including participating securities		9,834,002		10,012,190		9,911,522		10,107,700
Less: Participating securities (1)		(46,727)		(52,634)		(48,383)		(54,024)
Average shares		9,787,275		9,959,556		9,863,139		10,053,676

Basic earnings per common share	$	1.83	$	1.65	$	5.36	$	4.75

Diluted
Net income available to common shareholders	$	17,990	$	16,552	$	53,106	$	48,023

Weighted average common shares outstanding for basic earnings per common share		9,787,275		9,959,556		9,863,139		10,053,676
Add: Dilutive effects of stock-based compensation awards		21,419		20,988		21,459		22,214
Average shares and dilutive potential common shares		9,808,694		9,980,544		9,884,598		10,075,890

Diluted earnings per common share	$	1.83	$	1.65	$	5.36	$	4.75

(1)	Participating securities are restricted stock awards whereby the stock certificates have been issued, are included in outstanding shares, receive dividends and can be voted, but have not vested.

Bank First Corp 10-Q