8.	STOCKHOLDERS’ EQUITY

The following table summarizes the changes in other comprehensive income (loss) by component, net of tax for the period indicated:

	Three Months Ended September 30,							Nine Months Ended September 30,
	2017				2016			2017			2016
	Unrealized holding gains (losses) on AFS							Unrealized holding gains (losses) on AFS
	(in thousands)
Beginning balance		$	87		$	33		$	(29	)	$	(68	)
Other comprehensive income before reclassifications			(17	)		(46	)		99			55
Amounts reclassified from accumulated other comprehensive income			—			—			—			—
Net current-period other comprehensive income			(17	)		(46	)		99			55
Ending Balance		$	70		$	(13	)	$	70		$	(13	)

There were no reclassifications out of accumulated other comprehensive income for the three months ended September 30, 2017 or 2016.

Common Stock

On August 24, 2017, the Board of Directors extended the common stock repurchase program of up to $3.0 million for two additional years. Under this program the Company has repurchased 187,569 common stock shares for $1.4 million at an average price of $7.25 per share. There were no repurchases of common stock under this program during the three or nine months ended September 30, 2017.

During the three and nine months ended September 30, 2017, the Company paid common stock dividends of $0.3 million and $0.9 million, respectively. During the three and nine months ended September 30, 2016, the Company paid common stock dividends of $0.3 million and $0.8 million, respectively.

Common Stock Warrant

The Warrant issued as part of the TARP provides for the purchase of up to 521,158 shares of the common stock, at an exercise price of $4.49 per share (“Warrant Shares”). The Warrant is immediately exercisable and expires on December 19, 2018. The exercise price and the ultimate number of shares of common stock that may be issued under the Warrant are subject to certain anti-dilution adjustments, such as upon stock splits or distributions of securities or other assets to holders of the common stock, and upon certain issuances of the common stock at or below a specified price relative to the then current market price of the common stock. In the second quarter of 2013, the Treasury sold its warrant position to a private investor. Pursuant to the Securities Purchase Agreement, the private investor has agreed not to exercise voting power with respect to any Warrant Shares.