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Share Repurchase Program

12 Months Ended

Dec. 31, 2019

(16) Share Repurchase Program

On November 5, 2018, pursuant to a Board of Directors resolution, the Company announced its intention to repurchase an aggregate number of shares with a total purchase price not to exceed $20,000 of its common stock, par value $0.10 per share, in the open market, depending upon market conditions over the short to mid-term. The Shares Repurchase Program expired on March 8, 2019. During 2019 and 2018, the Company purchased 158,048 and 452,358 shares for a total of $2,604 and $7,287 at an average price of $16.48 and $16.11 per share, respectively.

The table below summarizes the number of shares of our common stock that were repurchased during the years ended December 31, 2019 and 2018. The shares and respective amount are recorded as treasury shares on the Company’s consolidated balance sheets.

Month ended	Total number of shares purchased		Average price paid per share		Total amount paid
January 31, 2019		158,048	$	16.48	$	2,604
Total number of shares repurchased		158,048	$	16.48	$	2,604

November 30, 2018		196,858	$	17.10	$	3,366
December 31, 2018		255,500		15.35		3,921
Total number of shares repurchased		452,358	$	16.11	$	7,287