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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Class A Common Stock | Class B Common Stock | Additional paid-in Capital | Retained Earnings
--- | --- | --- | --- | --- | ---
Balance at Dec. 31, 2016 | $ 125,770 | $ 24 | $ 100 | $ 55,515 | $ 70,131
Net income | 13,203 |  |  |  | 13,203
Cash dividends | (2,485) |  |  |  | (2,485)
Issuance of common stock | 97 |  |  | 97 |
Balance at Dec. 31, 2017 | 136,585 | 24 | 100 | 55,612 | 80,849
Net income | 15,325 |  |  |  | 15,325
Share conversion |  | 100 | $ (100) |  |
Cash dividends | (2,487) |  |  |  | (2,487)
Issuance of common stock | 139 |  |  | 139 |
Balance at Dec. 31, 2018 | 149,562 | 124 |  | 55,751 | 93,687
Net income | 15,998 |  |  |  | 15,998
Cash dividends | (3,483) |  |  |  | (3,483)
Issuance of common stock | 118 |  |  | 118 |
Balance at Dec. 31, 2019 | $ 162,195 | $ 124 |  | $ 55,869 | $ 106,202

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