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Note F - Treasury Stock
9 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Treasury Stock [Text Block]
NOTE F: TREASURY STOCK
The Company’s stock repurchase program has been extended and expanded several times, most recently in May 2014, when the Board of Directors reauthorized 500,000 shares of common stock for repurchase under the initial September 2011 authorization.
During the nine months ended September 30, 2016, the Company repurchased 149,687 shares of its common stock at an aggregate cost of approximately $2,994,000 under this program.
 
On February 18, 2016, the Company commenced a tender offer to repurchase up to 325,000 shares of the Company’s outstanding common stock at a price of up to $30.00 per share. On March 18, 2016, the Company extended the offer and increased the offer from 325,000 shares to 425,000 shares and the offer price from up to $30.00 per share to an offer price of up to $34.00 per share. Following the expiration of the tender offer on April 5, 2016, the Company accepted 567,413 shares of its common stock for purchase at $31.00 per share, including 142,413 oversubscribed shares tendered, at an aggregate purchase price of approximately $17.6 million, excluding fees and expenses related to the offer.
 
The Company accounts for Treasury stock using the cost method and as of September 30, 2016, 5,097,910 shares were held in the treasury at an aggregate cost of approximately $122,505,000.