Quarterly report [Sections 13 or 15(d)]

Shareholders' Equity

v3.25.1
Shareholders' Equity
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Shareholders' Equity Shareholders' Equity
Share Repurchase Program
The Company's previous share repurchase program allowed for repurchase of up to 790,383 shares of the Company's outstanding common stock and expired on February 17, 2025. On February 17, 2025, the Board of Directors authorized a new share repurchase program allowing for repurchase of up to 1.0 million shares of the Company's outstanding common stock over 24 months. The shares will be purchased from time to time at prevailing market prices, through open market or privately negotiated transactions, depending on market conditions. Under the program, the purchases will be funded from available working capital, and the repurchased shares will be returned to the status of authorized, but unissued shares of common stock or held in treasury. There is no guarantee as to the exact number of shares that will be repurchased by the Company, and the Company may discontinue purchases at any time that management determines additional purchases are not warranted. As of March 31, 2025, the Company has 983,923 shares of its share repurchase authorization remaining.
Shares repurchased for the three months ended March 31, 2025 and 2024 were as follows:
Three Months Ended March 31,
2025 2024
Number of shares repurchased1
16,822  16,330 
Average price per share $ 12.73  $ 9.97 
Total cost of shares repurchased2
$ 214,622  $ 163,221 
1Includes 745 shares repurchased under previous share repurchase program which expired on February 17, 2025
2Includes broker commissions paid as part of repurchase transactions