Share Repurchase Authorization

12 Months Ended

Dec. 31, 2017

15.	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. At December 31, 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 December 31, 2017, 2016 and 2015:

	Year Ended December 31,
	2017		2016		2015
Shares of common stock repurchased		—		615		1,674
Cost of stock repurchased	$	-	$	8,044	$	20,668
Average price paid per share	$	-	$	13.07	$	12.35