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Common Stock
12 Months Ended
Dec. 31, 2017
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]  
Common Stock
Common Stock
Quarterly cash dividends were paid aggregating to $6.0 million, $5.4 million, and $5.1 million, or $0.86 per share, $0.78 per share, and $0.74 per share, in 2017, 2016, and 2015, respectively.  On February 22, 2018, the Board of Directors declared a $0.24 per share cash dividend payable on March 16, 2018, to shareholders of record on March 8, 2018.  Federal and State regulations place certain limitations on the payment of dividends by the Company.
In September 2002, the Company’s Board of Directors approved a plan whereby it would periodically repurchase for cash up to approximately 5% of its shares of common stock in the open market. At December, 31, 2017, there are 168,901 shares available under the stock repurchase program. The Company intends to continue to repurchase its stock from time to time depending upon market conditions. The Company can make no assurances that it will continue this program or that it will repurchase all of the authorized shares.  During 2017, 58,341 shares were repurchased and no repurchases occurred in 2016.