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Stock Repurchase
6 Months Ended
Jun. 30, 2012
Stock Repurchase [Abstract]  
Stock Repurchase

Note 17. Stock Repurchase

On November 29, 2010, the Company’s Board of Directors approved a program to repurchase up to $10.0 million of the Company’s common stock. Stock repurchases under this program may be made through open market and privately negotiated transactions, at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased is dependent on a variety of factors including price, corporate and regulatory requirements and other market conditions. During the fiscal year 2010, the Company repurchased and retired 65,000 shares of the Company’s common stock under this program at a weighted average price of $11.91 per share. During the fiscal year 2011, the Company repurchased and retired a total of 265,040 shares of the Company’s common stock under this program at a weighted average price of $16.00 per share. During the three month and six month periods ended June 30, 2012, the Company repurchased and retired a total of 337,366 shares of the Company’s common stock under this program at a weighted average price of $14.66 per share. As of June 30, 2012, the entire $10.0 million approved by the Board on November 29, 2010 for the repurchase of shares of the Company’s common stock had been used for this purpose.

On May 29, 2012, the Company’s Board of Directors approved a program to repurchase up to $20.0 million of the Company’s common stock. Stock repurchases under this program may be made through open market and privately negotiated transactions, at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased is dependent on a variety of factors including price, corporate and regulatory requirements and other market conditions. During the three month period ended June 30, 2012, the Company did not purchase any shares of common stock under the May 2012 approved program.