Earnings per Common Share

12 Months Ended

Mar. 30, 2024

Earnings per Common Share [Abstract]

Earnings per Common Share

Note 11 – Earnings per Common Share

Earnings per Common Share
(thousands, except per share data)		2024		2023		2022
Numerator for earnings per common share calculation:
Net income	$	37,571	$	39,048	$	61,568
Less: Preferred stock dividends		(1,141)		(515)		(469)
Income available to common stockholders	$	36,430	$	38,533	$	61,099
Denominator for earnings per common share calculation:
Weighted average common shares - basic		30,903		32,144		33,527
Effect of dilutive securities:
Preferred stock		918		460		460
Stock options		—		—		12
Restricted stock		73		49		39
Weighted average common shares - diluted		31,894		32,653		34,038
Basic earnings per common share	$	1.18	$	1.20	$	1.82
Diluted earnings per common share	$	1.18	$	1.20	$	1.81

The computation of diluted earnings per common share for 2024, 2023, and 2022 excludes the effect of the assumed exercise of approximately 608,000, 658,000, and 460,000 of stock options, respectively, as the exercise price of these options was greater than the average market value of our common stock for those periods, resulting in an anti-dilutive effect on diluted earnings per common share.