Note 11 - Shareholders' Equity

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

Repurchase of Common Stock

A summary of our authorized share repurchase plans is as follows:

($ in thousands, except share and per share amounts)	2020		2019
Maximum authorized share repurchase amount (1)	$	7,500	$	7,500
Date of plan's authorization by the Board	February 2020		February 2019
Funding source	Working capital		Working capital
Number of shares repurchased under the plan (shares)		129,095		54,249
Amount paid for shares repurchased	$	2,938	$	1,500
Weighted average price paid per share	$	22.76	$	27.65
Remaining amount of shares authorized to be purchased under the plan (in dollars)	$	4,562	$	6,000

⁽¹⁾ Common shares can be purchased in the open market or privately negotiated transactions over the next twelve months from the date of plan authorization.

On March 8, 2021, we announced a new $7,500,000 share repurchase program that will terminate on March 4, 2022. This program is replacing the 2020 share repurchase program that expired on February 27, 2021.

Preferred Shares

The Company has authorized 250,000 shares of voting preferred stock with no par value. No shares are issued or outstanding. Also, the Company has authorized 250,000 shares of non-voting preferred stock with no par value. Of these, 125,000 shares have been designated Series A non-voting convertible preferred stock with a stated value of $.06 per share, of which no shares are issued or outstanding at December 31, 2020 and 2019, respectively.