Note 15 - Share Repurchase Program

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Treasury Stock [Text Block]

NOTE 15: SHARE REPURCHASE PROGRAM

During the three and nine months ended September 30, 2023, the Company repurchased 135,078 shares of common stock at an average purchase price of $22.23 per share for an aggregate purchase price of $3,003. During the three months ended September 30, 2022, the Company repurchased 82,718 shares of common stock at an average purchase price of $28.14 per share for an aggregate purchase price of $2,328. During the nine months ended September 30, 2022, the Company repurchased 218,809 shares of common stock at an average purchase price of $31.01 per share for an aggregate purchase price of $6,785. As of September 30, 2023, 143,721 shares of common stock remained available for repurchase pursuant to the Company’s share repurchase program.

The repurchases of common stock are accounted for as treasury stock, and result in a reduction of stockholders’ equity. When treasury shares are reissued, the Company accounts for the reissuance in accordance with FASB ASC No. 505-30, “Treasury Stock” and charges the excess of the repurchase cost over issuance price using the weighted average method to retained earnings. The purchase cost is calculated based on the specific identified method. In the case where the repurchase cost over issuance price using the weighted average method is lower than the issuance price, the Company credits the difference to additional paid-in capital.