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Treasury Stock
9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Treasury Stock

Note 9. Treasury Stock

The Company’s Board of Directors initiated a share repurchase program in February 2010. In October 2016, the Board reauthorized this program with a limit of $25.0 million with no expiration date. As of September 30, 2022, $12.8 million was available for future purchases. Repurchases of shares may be made pursuant to pre-established trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934.

During the three months ended September 30, 2022, 139,559 shares were purchased for $6.5 million, or an average price of $46.83 per share (including commissions). During the nine months ended September 30, 2022, 261,151 shares were purchased for $12.2 million, or an average price of $46.85 per share (including commissions). There were no shares purchased in the three or nine months ended September 30, 2021.