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EQUITY STRUCTURE AND ACCOUNTS
 3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
EQUITY STRUCTURE AND ACCOUNTS
10. EQUITY STRUCTURE AND ACCOUNTS

Stock Repurchases

On July 27, 2022, the board of directors authorized the repurchase of $50.0 million of the Company’s Class A common stock from time to time without further approval. This authorization increased the remaining outstanding authorization per the August 4, 2021 authorization from $39.5 million to $50.0 million. Stock repurchases by the Company are generally made for cash in open market transactions at prevailing market prices but may also be made in privately negotiated transactions or otherwise. The timing and amount of purchases are determined based upon prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. As of March 31, 2023, the Company has a remaining amount available for repurchase of $44.5 million, which represents 3.7% in the aggregate of its outstanding Class A common stock, based on the closing price of $9.45 per share on such date.

The following tables summarize the Company’s repurchase activity of its Class A common stock during the three months ended March 31, 2023 and 2022 ($ in thousands):
SharesAmount(1)
Authorizations remaining as of December 31, 2022$46,737 
Repurchases paid250,000 (2,285)
Authorizations remaining as of March 31, 2023$44,452 
(1)Amount excludes commissions paid associated with share repurchases.
SharesAmount(1)
Authorizations remaining as of December 31, 2021$38,102 
Repurchases paid20,000 (214)
Authorizations remaining as of March 31, 2022$37,888 
(1)Amount excludes commissions paid associated with share repurchases.

Dividends

The following table presents dividends declared (on a per share basis) of Class A common stock for the three months ended March 31, 2023 and 2022:
Declaration DateDividend per Share
March 15, 2023$0.23 
Total$0.23 
March 15, 2022$0.20 
Total$0.20 
Changes in Accumulated Other Comprehensive Income (Loss)

The following table presents changes in accumulated other comprehensive income related to the cumulative difference between the fair market value and the amortized cost basis of securities classified as available for sale for the three months ended March 31, 2023 and 2022 ($ in thousands):
Accumulated Other Comprehensive Income (Loss)
December 31, 2022$(21,009)
Other comprehensive income (loss)3,485 
March 31, 2023$(17,524)
Accumulated Other Comprehensive Income (Loss)
December 31, 2021$(4,112)
Other comprehensive income (loss)(6,641)
March 31, 2022$(10,753)