Annual report pursuant to Section 13 and 15(d)

Payment of Dividends

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Payment of Dividends
 12 Months Ended
Dec. 31, 2016
Payments of Dividends [Abstract]  
Payment of Dividends
Payment of Dividends
At the end of each fiscal year the Board reviews the financial performance and capital needed to support future growth to determine the amount of cash dividend, if any, which is appropriate. As a result of this review, no dividends were declared or paid in 2016. In 2015, the Company paid a $0.30 cash dividend on December 8, 2015 for a total of $2,618,000 and in 2014, the Company paid a $0.30 cash dividend on December 9, 2014 for a total payment of $2,633,000.