Income Taxes

9 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The Company’s income tax expense was $2.1 million and $1.9 million for the three months ended September 30, 2024 and 2023, respectively, and $6.3 million and $7.4 million for the nine months ended September 30, 2024 and 2023, respectively. The effective income tax rate was 28.3% and 27.1% for the three months ended September 30, 2024 and 2023, respectively, and 28.2% and 28.4% for the nine months ended September 30, 2024 and 2023, respectively.

The Company is subject to U.S. Federal income tax as well as various state taxing jurisdictions. The Company is no longer subject to examination by Federal taxing authorities for tax years prior to 2020 and for state taxing authorities for tax years prior to 2019.

There were no significant unrealized tax benefits recorded as of September 30, 2024 and December 31, 2023, and the Company does not expect any significant increase in unrealized tax benefits in the next twelve months.