Our effective tax rate reconciliation for the third quarter is as follows (in thousands):


	Three months ended September 30,
	2026			2025

Income tax provision calculated at the statutory federal rate	$	20,308		$	17,544
State and local income taxes, less federal income tax effect		2,685			3,120
Nondeductible expenses:
Stock compensation tax expense		521			-
Other--net		1,546			(1,357)
Income tax provision	$	25,060		$	19,307
Effective tax rate		25.9	%		23.1	%

Our effective income tax rate was 25.9% in the third quarter of 2026 compared to 23.1% during the third quarter of 2025.

Our effective tax rate reconciliation for the first nine months is as follows (in thousands):


	Nine months ended September 30,
	2026			2025

Income tax provision calculated at the statutory federal rate	$	58,144		$	52,570
State and local income taxes, less federal income tax effect		8,213			9,568
Nondeductible expenses:
Stock compensation tax expense/(benefit)		1,022			(513)
Other--net		3,845			221
Income tax provision	$	71,224		$	61,846
Effective tax rate		25.7	%		24.7	%