Three Months Ended

Six Months Ended

June 30,

(in thousands, except per share data)

2023

2022

2023

2022

Net income

$

21,052

$

24,347

$

49,144

$

52,697

Dividends declared on Common Stock:

Class A Shares

(6,537)

(6,047)

(13,118)

(12,128)

Class B Shares

(733)

(670)

(1,467)

(1,341)

Undistributed net income for basic earnings per share

13,782

17,630

34,559

39,228

Weighted average potential dividends on Class A shares upon exercise of dilutive options

(8)

(21)

(39)

(49)

Undistributed net income for diluted earnings per share

$

13,774

$

17,609

$

34,520

$

39,179

Weighted average shares outstanding:

Class A Shares

17,726

17,946

17,750

17,968

Class B Shares

2,158

2,161

2,159

2,163

Effect of dilutive securities on Class A Shares outstanding

22

62

52

71

Weighted average shares outstanding including dilutive securities

19,906

20,169

19,961

20,202

Basic earnings per share:

Class A Common Stock:

Per share dividends distributed

$

0.37

$

0.34

$

0.75

$

0.68

Undistributed earnings per share*

0.70

0.89

1.75

1.97

Total basic earnings per share - Class A Common Stock

$

1.07

$

1.23

$

2.50

$

2.65

Class B Common Stock:

Per share dividends distributed

$

0.34

$

0.31

$

0.68

$

0.62

Undistributed earnings per share*

0.64

0.81

1.59

1.79

Total basic earnings per share - Class B Common Stock

$

0.98

$

1.12

$

2.27

$

2.41

Diluted earnings per share:

Class A Common Stock:

Per share dividends distributed

$

0.37

$

0.34

$

0.75

$

0.68

Undistributed earnings per share*

0.70

0.88

1.75

1.96

Total diluted earnings per share - Class A Common Stock

$

1.07

$

1.22

$

2.50

$

2.64

Class B Common Stock:

Per share dividends distributed

$

0.34

$

0.31

$

0.68

$

0.62

Undistributed earnings per share*

0.64

0.80

1.59

1.78

Total diluted earnings per share - Class B Common Stock

$

0.98

$

1.11

$

2.27

$

2.40