SHARE REPURCHASES

3 Months Ended

Mar. 31, 2020

SHARE REPURCHASES

SHARE REPURCHASES

NOTE 11. SHARE REPURCHASES

In March 2020, the Company’s Board of Directors approved a $5 million stock repurchase program (the “$5 Million Repurchase Program”). During the three months ended March 31, 2020, the Company repurchased 57,852 shares of its common stock on the open market for a total cost of approximately $592,000, or an average price per share of $10.43. The $5 Million Repurchase Program does not have an expiration date.

See Note 15, “Subsequent Events”, for information related to share repurchases made by the Company subsequent to March 31, 2020.