Three Months Ended

Nine Months Ended

September 30,

(in thousands, except per share data)

2025

2024

2025

2024

Net income

$

29,744

$

26,543

$

108,496

$

82,355

Dividends declared on Common Stock:

Class A Shares

(7,802)

(7,007)

(23,404)

(20,989)

Class B Shares

(881)

(796)

(2,644)

(2,388)

Undistributed net income for basic earnings per share

21,061

18,740

82,448

58,978

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

(26)

(33)

(94)

(88)

Undistributed net income for diluted earnings per share

$

21,035

$

18,707

$

82,354

$

58,890

Weighted average shares outstanding:

Class A Shares

17,583

17,504

17,584

17,487

Class B Shares

2,150

Effect of dilutive securities on Class A Shares outstanding

58

81

69

72

Weighted average shares outstanding including dilutive securities

19,791

19,735

19,803

19,709

Basic earnings per share:

Class A Common Stock:

Per share dividends distributed

$

0.45

$

0.41

$

1.35

$

1.22

Undistributed earnings per share*

1.08

0.96

4.22

3.03

Total basic earnings per share - Class A Common Stock

$

1.53

$

1.37

$

5.57

$

4.25

Class B Common Stock:

Per share dividends distributed

$

0.41

$

0.37

$

1.23

$

1.11

Undistributed earnings per share*

0.98

0.88

3.84

2.76

Total basic earnings per share - Class B Common Stock

$

1.39

$

1.25

$

5.07

$

3.87

Diluted earnings per share:

Class A Common Stock:

Per share dividends distributed

$

0.45

$

0.41

$

1.35

$

1.22

Undistributed earnings per share*

1.07

0.96

4.20

3.02

Total diluted earnings per share - Class A Common Stock

$

1.52

$

1.37

$

5.55

$

4.24

Class B Common Stock:

Per share dividends distributed

$

0.41

$

0.37

$

1.23

$

1.11

Undistributed earnings per share*

0.98

0.87

3.82

2.74

Total diluted earnings per share - Class B Common Stock

$

1.39

$

1.24

$

5.05

$

3.85