Note 8 - Treasury Stock

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Treasury Stock [Text Block]

Note 8.  Treasury Stock

During 2012, the Board of Directors authorized a stock repurchase program whereby the Company could repurchase up to 500,000 shares of its outstanding Common Stock. During 2013, the Board of Directors renewed and extended the Company’s share repurchase authority to enable it to repurchase up to an aggregate of 1,000,000 shares of Common Stock. The shares may be repurchased from time to time in the open market or through privately negotiated transactions at prices the Company deems appropriate. The program does not obligate the Company to acquire any particular amount of Common Stock and may be modified or suspended at any time at the Company’s discretion.

From 2012 through June 30, 2016, the Company has repurchased 690,370 shares of Common Stock at an average price of approximately $3.14 per share, for a total of approximately $2,163 under the foregoing stock repurchase program. During the second quarter ended June 30, 2016, no additional shares were repurchased.