Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes For the three months ended June 30, 2025 and 2024, income tax expense was $1.3 million and $1.0 million, respectively, resulting in an effective income tax rate of 24.5% and 23.9%, respectively. For the six months ended June 30, 2025 and 2024, income tax expense was $2.6 million and $2.2 million, respectively, resulting in an effective income tax rate of 26.1% and 25.2%, respectively. The effective tax rate differs from the statutory rate of 21.0% during the three and six months ended June 30, 2025 due primarily to state income tax expense and higher estimated disallowed compensation estimates. On July 4, 2025, President Trump signed into law the legislation formally titled “An Act to Provide for Reconciliation Pursuant to Title II of H. Con. Res. 14” and commonly referred to as the One Big Beautiful Bill (“the Act”). The Company is currently evaluating income tax implications of the Act; however, the Company does not expect the Act to have a material impact on the Company’s financial statements.
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