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Share Repurchase Plan
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Share Repurchase Plan Share Repurchase PlanThe Corporation will repurchase shares of its common stock from time to time through open market purchases, tender offers, privately negotiated purchases or other means based on general market conditions, the trading price of the Corporation's common stock, tax considerations, alternative uses of capital and the Corporation's results of operation. The share repurchase program does not obligate the Corporation to acquire any particular amount of common stock. The program has no scheduled expiration date and the Board of Directors has the right to suspend or discontinue the program at any time. On October 26, 2022, the Corporation's Board of Directors approved the repurchase of 1,000,000 shares, or approximately 3.4% of the Corporation's common stock outstanding as of September 30, 2022. During the years ended December 31, 2022 and 2020, the Corporation repurchased 450,000 and 185,072 shares, respectively, of common stock at a cost of $11.4 million and $4.0 million, respectively, under the Corporation's share repurchase program. During the year ended December 31, 2021, there were no repurchases of common stock under the Corporation's share repurchase program. At December 31, 2022, there were 1,229,174 shares available to be repurchased under the program.