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Treasury Stock
9 Months Ended
Sep. 30, 2023
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, 2023, $12.6 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 and nine months ended September 30, 2023, no shares were purchased. 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).