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Stock Repurchase Program | 12 Months Ended
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Dec. 31, 2021
Stock Repurchase Program |
Stock Repurchase Program | Note 20—Stock Repurchase Program In January 2019, the Board of Directors approved a stock repurchase program (“2019 Repurchase Program”) to repurchase up to 1,000,000 of our common shares, all of which was repurchased by June 30, 2019. In June 2019, the Board of Directors authorized an additional 2,000,000 of our common shares to be repurchased under the 2019 Repurchase Program. On January 27, 2021, the Company’s Board of Directors approved a new stock repurchase program (“2021 Stock Repurchase Plan”) authorizing the Company to repurchase up to 3,500,000 of the Company’s common shares. As of December 31, 2021, we have repurchased 1,817,941 shares of the 3,500,000 approved in January 2021 at an average price per share of $80.51 per share (excluding commission expense). Under the 2021 Stock Repurchase Plan, we may repurchase up to an additional 1,682,059 shares of common stock under the program. In 2020, the Company repurchased a total of 320,000 shares for $24.7 million or $77.23 per share (excluding commission expense). These shares repurchased in 2020 were under the 2019 Repurchase Program. Under other arrangements where directors or officers surrendered currently owned shares to the Company to acquire proceeds for exercising stock options or paying taxes on currently vesting restricted stock, the Company repurchased 13,412, 122,708, and 35,674 shares at a cost of $1.1 million, $7.7 million, and $2.5 million in 2021, 2020, and 2019, respectively. Of the amounts in 2020, 86,263 shares at a cost of $5.2 million were related to the vesting of restricted stock due to the merger with CSFL.

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=2208821 + Details
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