Share Repurchase Program

12 Months Ended

Dec. 31, 2016

Shares Repurchase Authorization:

In January 2015, 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. During the twelve months ended December 31, 2016, we repurchased 615 shares of common stock. At December 31, 2016, there were 711 shares available for future stock repurchases under this repurchase authorization. Shares of common stock purchased under the share repurchase authorization are retired.

The following table summarizes the Company’s stock repurchases for December 31, 2016, 2015 and 2014:



	Year Ended December 31,
	2016		2015		2014
Shares of common stock repurchased	615		1,674		1,353
Cost of stock repurchased		$8,044		$20,668		$12,845
Average price paid per share		$13.07		$12.35		$9.49