Stock Repurchase Program

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Stock Repurchase Program

STOCK REPURCHASE PROGRAM

On February 21, 2018 our Board of Directors authorized a $15.0 million share repurchase program. Under this program, shares of our common stock may be repurchased from time to time through February 21, 2020. As of September 30, 2019, repurchases under this program totaled $1.0 million.

Repurchases may be made under the program in open market transactions at prevailing prices, in privately negotiated transactions, or by other means in accordance with federal securities laws. Share repurchases will be funded from existing cash balances, and repurchased shares will be retired and returned to unissued authorized shares.

As of September 30, 2019, there was $14.0 million remaining available for repurchases under the share repurchase program.

Cumulative repurchases pursuant to the program are as follows:

Quarter Ended	Number of Shares	Repurchased Amount		Average Price Per Share
December 31, 2018	75,813	$	1,008,652	$	13.30
March 31, 2019	—	—		—
June 30, 2019	—	—		—
September 30, 2019	—	—		—
Totals to date	75,813	$	1,008,652	$	13.30