v3.26.1
EQUITY
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
EQUITY
9. EQUITY
Stock Repurchases

On April 21, 2026, the board of directors authorized the repurchase of $100.0 million of the Company’s Class A common stock from time to time without further approval. This authorization increased the remaining outstanding authorization per the April 23, 2025 authorization from $77.2 million to $100.0 million. Stock repurchases by the Company are generally made for cash in open market transactions at prevailing market prices but may also be made in privately negotiated transactions or otherwise. The timing and amount of purchases are determined based upon prevailing market conditions, the Company’s liquidity requirements, contractual restrictions and other factors. As of June 30, 2026, the Company has a remaining amount available for repurchase of $91.9 million, which represents 7.3% in the aggregate of its outstanding Class A common stock, based on the closing price of $9.95 per share on such date.

The following tables summarize the Company’s repurchase activity of its Class A common stock during the six months ended June 30, 2026 and 2025 ($ in thousands):
SharesAmount(1)
Authorizations remaining as of December 31, 2025$90,580 
Additional authorizations (2)22,835 
Repurchases paid:
January 1, 2026 - January 31, 2026— — 
February 1, 2026 - February 28, 2026477,536 (4,945)
March 1, 2026 - March 31, 2026844,557 (8,470)
April 1, 2026 - April 30, 202611,431 (117)
May 1, 2026 - May 31, 2026420,139 (4,199)
June 1, 2026 - June 30, 2026371,211 (3,736)
Authorizations remaining as of June 30, 2026$91,948 
(1)Amount excludes commissions paid associated with share repurchases.
(2)On April 21, 2026, the Board authorized repurchases up to $100.0 million in aggregate.

SharesAmount(1)
Authorizations remaining as of December 31, 2024$67,604 
Additional authorizations (2)33,201 
Repurchases paid:
January 1, 2025 - January 31, 2025— — 
February 1, 2025 - February 28, 2025— — 
March 1, 2025 - March 31, 202570,506 (805)
April 1, 2025 - April 30, 2025— — 
May 1, 2025 - May 31, 2025401,396 (4,151)
June 1, 2025 - June 30, 2025234,094 (2,456)
Authorizations remaining as of June 30, 2025$93,393 
(1)Amount excludes commissions paid associated with share repurchases.
Dividends

The following table presents dividends declared (on a per share basis) of Class A common stock for the six months ended June 30, 2026 and 2025:
Declaration DateDividend per Share
March 13, 2026$0.23 
June 15, 20260.23 
Total$0.46 
March 14, 2025$0.23 
June 13, 20250.23 
Total$0.46 
Changes in Accumulated Other Comprehensive Income (Loss)

The following table presents changes in accumulated other comprehensive income related to the cumulative difference between the fair market value and the amortized cost basis of securities classified as available for sale for the six months ended June 30, 2026 and 2025 ($ in thousands):

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Accumulated Other Comprehensive Income (Loss) beginning of period$(5,844)$(7,215)$(4,135)$(4,866)
Unrealized gain (loss) on securities, available for sale3,021 1,608 1,993 (561)
Reclassification adjustment for (gain) loss included in net income (loss)(1,790)(32)(2,471)(212)
Accumulated Other Comprehensive Income (Loss) end of period$(4,613)$(5,639)$(4,613)$(5,639)