18. Stock Repurchase Program

On February 4, 2026, the Company completed its June 2025 stock repurchase program by repurchasing 243,499 shares at an average cost of $51.31 in the first quarter of 2026, for a total of $12.5 million. 

On April 23, 2026, the Company announced that its Board of Directors adopted a new share repurchase program authorizing the company to repurchase up to $150.0 million of the Company’s common stock. On July 16, 2026, the Company's Board approved an increase to its existing share repurchase authorization from $150.0 million to $200.0 million, with no change to the current authorization expiration date that is subject to regulatory approval which is currently pending. 

During the second quarter, we repurchased 242,148 common shares at an average cost of $58.00 per share, for a total of $14.0 million.