Share Repurchase Authorization

In 2008, the Board of Directors authorized the Company to repurchase up to 3,000 shares of the Company’s common stock with no established end date. The authorization allows for repurchases to be made in the open market or through negotiated transactions from time to time. As of December 31, 2014, the Company had repurchased 1,353 shares of common stock. In January 2015, the Board of Directors authorized the purchase of an additional 1,353 shares to the existing repurchase authorization, bringing the total current authorization back to 3,000 shares as of such date. At June 30, 2015, there were 2,067 shares available for future stock repurchases under this repurchase authorization. The shares of common stock purchased under the share repurchase authorization are being retired.

The following table summarizes the Company’s stock repurchases for the three and six month periods ended June 30, 2015 and 2014, respectively:



	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
Shares of common stock repurchased	363		100		933		100
Cost of stock repurchased		$4,411		$986		$11,197		$986
Average price paid per share		$12.17		$9.86		$12.01		$9.86