Share Repurchase Program

6 Months Ended

Jun. 30, 2018

Share Repurchase Program [Abstract]

Share Repurchase Program

16.    Share Repurchase Program

The Company’s Board of Directors has approved $50 million of a share repurchase program, under which the Company is authorized to repurchase the Company’s outstanding shares of Common Stock on the open market, including through a Rule 10b5-1 plan, or in privately negotiated transactions. 

The timing and amount of shares to be repurchased will be determined by the Company, based on evaluation of market and business conditions, share price, and other factors.  The share repurchase program does not obligate the Company to repurchase any dollar amount or number of common shares, and may be suspended or discontinued at any time.

For the six months ended June 30, 2018, the Company repurchased 287,257 shares of common stock at an average price of $20.94 per share for a total cost of $6.0 million.  As of June 30, 2018,  $44.0 million may still be purchased under the program.