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NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE | 9 Months Ended
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Sep. 30, 2025
NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE [Abstract] |
NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE | NOTE 14 - NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE Basic net income per share is based on the weighted average number of common shares outstanding. Diluted net income per share is based on the weighted average number of common shares outstanding, the potentially dilutive effect of employee stock options and restricted stock awards. The following table summarizes the shares used in computing basic and diluted net income per share:
|  | Three Months Ended | Nine Months Ended
|  | September 30, | September 30,
|  |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
|  | (in thousands) | (in thousands)
Weighted average common shares outstanding during the period for basic computation |  |  | 10,312 |  |  | 10,297 |  |  | 10,308 |  |  | 10,293 |
Dilutive effect of employee stock options and awards |  |  | 2 |  |  | 1 |  |  | 1 |  |  | 1 |
Weighted average common shares outstanding during the period for diluted computation |  |  | 10,314 |  |  | 10,298 |  |  | 10,309 |  |  | 10,294 |
For the three months and nine months ended September 30, 2025 and 2024, no shares of restricted stock awards were excluded from the calculations of diluted net income per share. For the three and nine months ended September 30, 2025 and 2024, no stock options were excluded from the calculations of diluted net income per share. The Company has 15,000,000 authorized shares of Class A Stock and 1,040,000 authorized shares of Class B Stock. As of September 30, 2025, 9,431,674 shares of Class A Stock and 881,452 shares of Class B Stock were issued and outstanding. As of September 30, 2024, 9,416,339 shares of Class A Stock and 881,452 shares of Class B Stock were issued and outstanding. The par value for both classes is $1.00 per share. Equity per common share was $24.14 and $23.24 at September 30, 2025 and December 31, 2024, respectively. These amounts were computed by dividing common stockholders' equity by the number of weighted average shares of common stock outstanding on September 30, 2025 and December 31, 2024, respectively.

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