Treasury Stock

Repurchased shares of our common stock were as follows:



	Six Months Ended June 30,
(In thousands, except share data)	2013		2012
Shares repurchased	117,666		27,980
Cost of shares repurchased	$	2,435	$	486

Repurchased shares are recorded as shares held in treasury at cost. We hold these shares for future use as management and the Board of Directors deem appropriate, which has included compensating our outside directors. During the six months ended June 30, 2013 and 2012, we issued 15,000 and 22,500 shares from treasury, respectively, to outside directors for services performed (see Note 13).

From time to time, our Board of Directors authorizes management to repurchase shares of our issued and outstanding common stock. Repurchases may be made to manage dilution created by shares issued under our stock incentive plans or whenever we deem a repurchase is a good use of our cash and the price to be paid is at or below a threshold approved by our Board. As of June 30, 2013, we had 968,905 shares available for repurchase under the Board's authorizations.