Three Months Ended

Six Months Ended

June 30,

Years Ended December 31, (in thousands, except per share data)

2024

2023

2024

2023

Net income

$

25,206

$

21,052

$

55,812

$

49,144

Dividends declared on Common Stock:

Class A Shares

(6,996)

(6,537)

(13,982)

(13,118)

Class B Shares

(796)

(733)

(1,592)

(1,467)

Undistributed net income for basic earnings per share

17,414

13,782

40,238

34,559

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

(33)

(8)

(56)

(39)

Undistributed net income for diluted earnings per share

$

17,381

$

13,774

$

40,182

$

34,520

Weighted average shares outstanding:

Class A Shares

17,483

17,726

17,475

17,750

Class B Shares

2,150

2,158

2,151

2,159

Effect of dilutive securities on Class A Shares outstanding

81

22

71

52

Weighted average shares outstanding including dilutive securities

19,714

19,906

19,697

19,961

Basic earnings per share:

Class A Common Stock:

Per share dividends distributed

$

0.41

$

0.37

$

0.81

$

0.75

Undistributed earnings per share*

0.90

0.70

2.07

1.75

Total basic earnings per share - Class A Common Stock

$

1.31

$

1.07

$

2.88

$

2.50

Class B Common Stock:

Per share dividends distributed

$

0.37

$

0.34

$

0.74

$

0.68

Undistributed earnings per share*

0.81

0.64

1.88

1.59

Total basic earnings per share - Class B Common Stock

$

1.18

$

0.98

$

2.62

$

2.27

Diluted earnings per share:

Class A Common Stock:

Per share dividends distributed

$

0.41

$

0.37

$

0.81

$

0.75

Undistributed earnings per share*

0.89

0.70

2.06

1.75

Total diluted earnings per share - Class A Common Stock

$

1.30

$

1.07

$

2.87

$

2.50

Class B Common Stock:

Per share dividends distributed

$

0.37

$

0.34

$

0.74

$

0.68

Undistributed earnings per share*

0.81

0.64

1.87

1.59

Total diluted earnings per share - Class B Common Stock

$

1.18

$

0.98

$

2.61

$

2.27