Note 12 - Treasury Stock Transactions

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Treasury Stock [Text Block]

12. TREASURY STOCK TRANSACTIONS

On

October

28,

2013,

the Board of Directors authorized a repurchase program to purchase up to

$5.0

million of outstanding shares of common stock at prevailing market prices, from time to time over the subsequent

12

-month period. On

September

30,

2014,

the Board extended this repurchase program through

October

31,

2015.

On

September

11,

2015,

the Board extended this repurchase program through

December

31,

2016.

On

August

9,

2016,

the Board authorized an additional

$5.0

million to the repurchase program and extended this repurchase program through

December

31,

2017.

For the fiscal year ended

December

31,

2016,

the Company

repurchased

701,114

shares for an average price of

$6.07

per share. As of

December

31,

2016,

$2.9

million approved funds remain available for future common stock repurchases.