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TREASURY STOCK
12 Months Ended
Dec. 31, 2018
TREASURY STOCK  
TREASURY STOCK

NOTE 13.       TREASURY STOCK

In the first quarter of 2017, the Company announced a $10 million stock repurchase program (the “$10 Million Repurchase Program”) under which approximately $4.6 million of the Company’s common stock had been repurchased as of December 31, 2017. On July 18, 2018, the Company’s Board of Directors approved an increase of approximately $7.1 million to the stock repurchase program, refreshing the total program to an aggregate of $10 million. During the year ended December 31, 2018, the Company repurchased 168,602 shares of its common stock on the open market for a total cost of approximately $9.8 million, or an average price per share of $58.35. The shares of the Company’s common stock repurchased during the year ended December 31, 2018 were returned to the Company’s treasury.  Subsequent to December 31, 2018 and prior to the date of this report, the Company completed the $10 million program through the repurchase of 46,136 shares of its common stock on the open market for a total cost of approximately $2.7 million, or an average price per share of $57.82. In January 2019, the Company’s Board of Directors approved an increase of $10.0 million to the stock repurchase program, refreshing the total program to an aggregate of $10 million.