Note 17 - Stock Repurchase Plan

12 Months Ended

Dec. 31, 2012

Stockholders' Equity Note Disclosure [Text Block]

NOTE 17 – Stock Repurchase Plan:

On August 1, 2008, the Company’s Board of Directors reset the common stock repurchase program authorization to allow for the repurchase of 1,000,000 additional shares of the Company’s outstanding shares of common stock. The Company reacquired and retired 36,570 shares and 76,693 shares of its common stock in the years ended December 31, 2012 and 2011,  respectively, with approximate costs of $437,000, and $882,000, respectively.  At December 31, 2012, the Company had 274,886 shares remaining on its common stock repurchase authorization.  Shares purchased under the share repurchase program are constructively retired and returned to unissued status. The Company considers several factors in determining when to make share repurchases, including among other things, the cost of equity, the after-tax cost of borrowing, the debt to total capitalization targets and the expected future cash needs.  There is no expiration date or other restriction governing the period over which the Company can make its share repurchases under the program.