Three Months Ended

Nine Months Ended

September 30,

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

2024

2023

2024

2023

Net income

$

26,543

$

21,571

$

82,355

$

70,715

Dividends declared on Common Stock:

Class A Shares

(7,007)

(6,456)

(20,989)

(19,574)

Class B Shares

(796)

(733)

(2,388)

(2,200)

Undistributed net income for basic earnings per share

18,740

14,382

58,978

48,941

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

(33)

(25)

(88)

(62)

Undistributed net income for diluted earnings per share

$

18,707

$

14,357

$

58,890

$

48,879

Weighted average shares outstanding:

Class A Shares

17,504

17,549

17,487

17,697

Class B Shares

2,150

2,157

2,150

2,158

Effect of dilutive securities on Class A Shares outstanding

81

68

72

55

Weighted average shares outstanding including dilutive securities

19,735

19,774

19,709

19,910

Basic earnings per share:

Class A Common Stock:

Per share dividends distributed

$

0.41

$

0.37

$

1.22

$

1.12

Undistributed earnings per share*

0.96

0.74

3.03

2.49

Total basic earnings per share - Class A Common Stock

$

1.37

$

1.11

$

4.25

$

3.61

Class B Common Stock:

Per share dividends distributed

$

0.37

$

0.34

$

1.11

$

1.02

Undistributed earnings per share*

0.88

0.67

2.76

2.26

Total basic earnings per share - Class B Common Stock

$

1.25

$

1.01

$

3.87

$

3.28

Diluted earnings per share:

Class A Common Stock:

Per share dividends distributed

$

0.41

$

0.37

$

1.22

$

1.12

Undistributed earnings per share*

0.96

0.73

3.02

2.48

Total diluted earnings per share - Class A Common Stock

$

1.37

$

1.10

$

4.24

$

3.60

Class B Common Stock:

Per share dividends distributed

$

0.37

$

0.34

$

1.11

$

1.02

Undistributed earnings per share*

0.87

0.67

2.74

2.25

Total diluted earnings per share - Class B Common Stock

$

1.24

$

1.01

$

3.85

$

3.27