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Shareholders' Equity | 12 Months Ended
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Dec. 31, 2025
Equity [Abstract] |
Shareholders' Equity | Shareholders' Equity Authorized shares of common stock were $24.0 million ($1.00 par value) at December 31, 2025 and 2024. Share Repurchase Program The Company's previous share repurchase program allowed for repurchase of up to 790,383 shares of the Company's outstanding common stock and expired on February 17, 2025. On February 17, 2025, the Board of Directors authorized a new share repurchase program allowing for repurchase of up to 1.0 million shares of the Company's outstanding common stock over 24 months. On December 19, 2025, the Board of Directors authorized a new share repurchase program allowing for repurchase of up to 2.0 million shares of the Company's outstanding common stock over 24 months. The shares will be purchased from time to time at prevailing market prices, through open market or privately negotiated transactions, depending on market conditions. Under the program, the purchases will be funded from available working capital, and the repurchased shares will be returned to the status of authorized, but unissued shares of common stock or held in treasury. There is no guarantee as to the exact number of shares that will be repurchased by the Company, and the Company may discontinue purchases at any time that management determines additional purchases are not warranted. As of December 31, 2025, the Company had 1,998,504 shares of its share repurchase authorization remaining. The Company may also withhold shares from employees to satisfy either the exercise price of stock options exercised or the statutory withholding tax liability resulting from the vesting of share-based awards. Shares repurchased for the year ended December 31, 2025 and 2024 were as follows:
| Year Ended December 31,
| 2025 |  | 2024
Share repurchase program 1 | 740,683 |  |  | 101,263 |
Shares withheld from employees | 4,841 |  |  | — |
Total shares repurchased | 745,524 |  |  | 101,263 |
Average price per share | $ | 12.26 |  |  | $ | 10.21 |
Total cost of shares repurchased 2 | $ | 9,159,661 |  |  | $ | 1,037,346 |
1 Includes 745 shares repurchased under previous share repurchase program which expired on February 17, 2025 and 743,283 shares repurchased under the repurchase program authorized on February 17, 2025 2 Includes broker fees incurred as part of repurchase transactions Dividends At the end of each fiscal year the Board reviews the financial performance and capital needed to support future growth to determine the amount of cash dividend, if any, which is appropriate. In 2025 and 2024, no dividends were declared or paid by the Company.

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