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STOCKHOLDERS' EQUITY
6 Months Ended
Jun. 30, 2020
Stockholders' Equity Note [Abstract]  
Stockholders Equity

Note 9 – Stockholders’ Equity

The Company’s Board of Directors approved a stock repurchase plan in December 2018 that permits the repurchase of up to 1,800,000 shares of common stock. For the six months ended June 30, 2020, the Company repurchased and retired 820,328 shares of its common stock at an average price of $31.33 per share. The Company did not repurchase shares during the three months ended June 30, 2020. Cumulatively under the program, as of June 30, 2020, the Company has repurchased and retired 1,488,519 common shares for the total cost of $50.0 million under the current repurchase plan.

 

On April 1, 2020, to facilitate the acquisition of Revere and as previously approved by the Company’s Board of Directors, the Company issued an additional 12,768,949 shares of the Company’s common stock at $22.64 per share. See to Note 2 for more information on the acquisition of Revere.