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Shareholders' Equity and Earnings Per Common Share | 9 Months Ended
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Sep. 30, 2025
Stockholders' Equity Note [Abstract] |
Shareholders' Equity and Earnings Per Common Share | Shareholders’ Equity and Earnings Per Common Share On December 17, 2024, our Board of Directors authorized a share repurchase plan (the “Repurchase Plan”) to buy back up to 1,100,000 shares of our outstanding common stock through December 31, 2025. Shares would be repurchased through open market transactions, though we could execute repurchases through other means, such as privately negotiated transactions. The timing and amount of any share repurchases will depend on a variety of factors, including, among others, securities law restrictions, the trading price of our common stock, regulatory requirements, potential alternative uses for capital, and our financial performance. During the three and nine month periods ended September 30, 2025 we repurchased 13,732 and 266,008 shares of common stock, respectively for an aggregate purchase price of $0.41 million and $7.77 million, respectively. During the nine month period ended September 30, 2024 there were no shares of common stock repurchased. A reconciliation of basic and diluted net income per common share follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (In thousands, except per share data)
Net income | $ | 17,502 |  |  | $ | 13,810 |  |  | $ | 49,969 |  |  | $ | 48,329 |
Weighted average shares outstanding (1) | 20,702 |  |  | 20,896 |  |  | 20,797 |  |  | 20,892 |
Stock units for deferred compensation plan for non-employee directors | 173 |  |  | 182 |  |  | 175 |  |  | 178 |
Performance share units | 28 |  |  | 34 |  |  | 27 |  |  | 27 |
Effect of stock options | 2 |  |  | 3 |  |  | 2 |  |  | 3 |
Weighted average shares outstanding for calculation of diluted earnings per share | 20,905 |  |  | 21,115 |  |  | 21,001 |  |  | 21,100 |
Net income per common share |  |  |  |  |  |  |
Basic (1) | $ | 0.85 |  |  | $ | 0.66 |  |  | $ | 2.40 |  |  | $ | 2.31 |
Diluted | $ | 0.84 |  |  | $ | 0.65 |  |  | $ | 2.38 |  |  | $ | 2.29 |
(1)Basic net income per common share includes weighted average common shares outstanding during the period and participating share awards. Weighted average stock options outstanding that were not considered in computing diluted net income per common share because they were anti-dilutive were zero for the three and nine month periods ended September 30, 2025 and 2024, respectively.

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