XML 106 R26.htm IDEA: XBRL DOCUMENT v2.4.1.9
Stock Repurchase Plans
12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
Stock Repurchase Plans

NOTE 19. STOCK REPURCHASE PLANS

In February 2012, our Board of Directors authorized a stock repurchase program under which up to $1.0 million of our common stock could be repurchased from time to time in the open market or in privately negotiated transactions during the period through June 30, 2012. As of June 30, 2012, a total of 214,087 shares had been repurchased at a weighted-average price of $4.67 per share, for a total purchase price of $1.0 million. The program was terminated by its terms on June 30, 2012.

In November 2012, our Board of Directors authorized a stock repurchase program under which up to $2.0 million of our common stock could be repurchased from time to time in the open market or in privately negotiated transactions. In May 2014, our Board of Directors authorized an increase to the stock repurchase program of an additional $2.0 million. Information regarding repurchases made pursuant to this program is as follows (dollars in thousands, except per share amounts):

 

Period

   Number
of Shares
     Weighted
average
per share
purchase
price
     Total
purchase
price
     Amount
remaining
for
repurchase
 

Fourth quarter of 2012

     59,006       $ 5.60       $ 332       $ 1,668   

First quarter of 2013

     9,800         5.87         58         1,610   

First quarter of 2014

     88,445         9.24         817         793   

Second quarter of 2014

     22,811         9.45         216         2,577   

Fourth quarter of 2014

     3,900         9.47         37         2,540   
  

 

 

       

 

 

    
  183,962      7.94      1,460      2,540