Stockholders'/Shareholders' Equity

12 Months Ended

Dec. 31, 2022

Federal Home Loan Banks [Abstract]

Stockholders'/Shareholders' Equity

(12) STOCKHOLDERS’/SHAREHOLDERS’ EQUITY

On April 29, 2022, the Company's board of directors authorized a new stock repurchase program, pursuant to which the Company was authorized to repurchase up to $35 million of its shares, which was increased to $40 million on August 10, 2022. Such new repurchase program replaced the previous one, which was terminated. During the year ended December 31, 2022 the Company repurchased 2,650,911 shares of its common stock at an aggregate cost of $20,618,843. Accordingly, as of December 31, 2022, up to $19,998,012 of shares remain authorized for repurchase under the Company's stock repurchase program. There were no purchases during the years ended December 31, 2021 and 2020.

The following table presents the Company’s purchases for the year ended December 31, 2022.

	Total Shares of Common Stock Repurchased		Average Price Paid per Share		Total Amount Paid		Maximum Value of Shares Yet to Be Purchased
January 1 - January 31		—	$	—	$	—	$	22,874,509
February 1 - February 28		—		—		—		22,874,509
March 1 - March 31		67,660		9.12		616,855		22,257,654
April 1 - April 30		—		—		—		22,257,654
May 1 - May 31		1,056,933		7.87		8,316,012		26,683,988
June 1 - June 30		215,217		7.71		1,658,542		25,025,447
July 1 - July 31		—		—		—		25,025,447
August 1 - August 31		734,547		7.93		5,822,227		24,203,219
September 1 - September 30		319,323		7.54		2,408,673		21,794,546
October 1 - October 31		257,231		6.98		1,796,534		19,998,012
November 1 - November 30		—		—		—		19,998,012
December 1 - December 31		—		—		—		19,998,012
Total		2,650,911	$	7.78		20,618,843	$	19,998,012