TREASURY STOCK

9 Months Ended

Sep. 30, 2011

TREASURY STOCK [Abstract]

TREASURY STOCK

4.   TREASURY STOCK

The Company did not repurchase any of its common stock into treasury during the nine months ended September 30, 2011 and 2010.  On April 29, 2011, 126,304 shares of the Company's common stock were released from treasury in order to fulfill benefit obligations under the 2004 Stock Incentive Plan.  The closing price of the Company's common stock on that date was $15.46, and the shares were released utilizing the average historical cost method.  On May 3, 2011, 45,056 shares of treasury stock were released in order to fulfill benefit obligations under the BMP.  The closing price of the Company's common stock on that date was $15.16, and the shares were released utilizing the average historical cost method.  On April 30, 2010, 143,083 shares of the Company's common stock were released from treasury in order to fulfill benefit obligations under the 2004 Stock Incentive Plan.  The closing price of the Company's common stock on that date was $12.75.  The shares were released utilizing the average historical cost method.

The Company returned 1,984 and 10,176 forfeited restricted stock awards into treasury stock during the nine months ended September 30, 2011 and September 30, 2010, respectively.