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Line of Credit
12 Months Ended
Dec. 31, 2022
Line of Credit [Abstract]  
Line of Credit

11.       Line of Credit

During 2021 the Company had a $40 million unsecured revolving line of credit with a bank. This facility terminated on September 30, 2021. On January 7, 2022, the Company entered into a new $40 million unsecured revolving line of credit agreement with a different bank that expires January 7, 2025. Borrowings under this new facility bear interest at either 1) the Bloomberg short-Term

Bank Yield Index – 1 month plus 150 basis points, or 2) a fluctuating rate per annum equal to the greater of (i) the Bank’s prime rate or (ii) the federal funds rate plus 50 basis points. The Company is also charged one-quarter of a percent (0.25%) per year on the unused portion. At December 31, 2022, the Company was in compliance with the terms and covenants of the credit facility.