Common and Preferred Stock

3 Months Ended

Mar. 31, 2025

Common and Preferred Stock [Abstract]

Common and Preferred Stock

16. Common and Preferred Stock

Common Stock

Changes in the number of common stock shares outstanding were as follows:

	Three Months Ended March 31,
	2025		2024
Shares outstanding, beginning of period		20,673,268		20,599,908
Treasury shares repurchased through stock repurchase authorization		—		—
Issuance of treasury shares for vesting of restricted stock units		25,306		29,546
Shares outstanding, end of period		20,698,574		20,629,454

The changes in the number of common shares outstanding excludes certain non-forfeitable stock award shares that are included in the weighted average common shares outstanding used in basic earnings per common share calculations.

On May 9, 2022, our Board of Directors approved an authorization for the repurchase of up to approximately $10,000 of the Company’s outstanding common stock. During the three months ended March 31, 2025, we did not repurchase any shares of our common stock. During the three months ended March 31, 2024, we did not repurchase any shares of our common stock. At March 31, 2025, $2,052 remains available under this authorization.

The cost of this treasury stock is a reduction of shareholders’ equity within our Consolidated Balance Sheets.

Preferred Stock

The Company’s Articles of Incorporation provide authority to issue up to five million shares of preferred stock. No preferred shares are issued or outstanding.