NOTE 15. Share 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 three and nine months ended September 30, 2017, the Company did not repurchase any shares of common stock pursuant to the share repurchase authorization. At September 30, 2017, 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 the three and nine months ended September 30, 2017 and 2016, respectively:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Shares of common stock repurchased		—		—		—		615
Cost of stock repurchased	$	—	$	—	$	—	$	8,044
Average price paid per share	$	—	$	—	$	—	$	13.07