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Treasury Stock
12 Months Ended
Dec. 31, 2016
Class of Stock Disclosures [Abstract]  
Treasury Stock [Text Block]
Treasury Stock
The basis for the carrying value of the Company's treasury stock is the purchase price of the shares at the time of purchase. The Company maintains a limited stock repurchase plan which authorizes the repurchase of up to a fixed number of shares of its common stock each calendar quarter in open market purchases or privately negotiated transactions, as management may deem advisable and as market conditions may warrant. The repurchase authorization for a calendar quarter expires at the end of that quarter to the extent it has not been exercised, and is not carried forward into future quarters. The quarterly repurchase program, which was initially adopted in 2010, was most recently reauthorized in January 2017 and will expire on December 31, 2017 unless reauthorized. For 2016, the share repurchase authorization under the plan was increased from 2,500 shares per quarter to 3,000 shares per quarter. The Company repurchased 213 shares under this program, at a total cost of $6 thousand during 2016, while 3,753 shares, at a total cost of $94 thousand were repurchased under the program during 2015. Since inception, the Company has repurchased 13,754 shares of its common stock at prices ranging from $17.86 to $26.67 per share, at a total cost of $291 thousand.
During the first quarter of 2016, the Company adopted a Dividend Reinvestment and Stock Purchase Plan (DRIP) whereby registered stockholders may elect to reinvest cash dividends and optional cash contributions to purchase additional shares of the Company's common stock. The Company has reserved 200,000 shares of its common stock for issuance and sale under the DRIP. As of December 31, 2016, 315 shares of stock had been issued from treasury stock under the DRIP.