TREASURY STOCK

6 Months Ended

Jun. 30, 2012

TREASURY STOCK [Abstract]

TREASURY STOCK

4.   TREASURY STOCK

The Holding Company did not repurchase any of its common stock into treasury during the three months ended June 30, 2012 or 2011.

On April 30, 2012, 141,289 shares of the Holding 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 Holding Company's common stock on that date was $13.86, and the shares were released utilizing the average historical cost method.  On May 1, 2012, 10,729 shares of treasury stock were released in order to fulfill benefit obligations under the BMP.  The closing price of the Holding Company's common stock on that date was $13.55, and the shares were released utilizing the average historical cost method.

On April 29, 2011, 126,304 shares of the Holding 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 Holding 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 Holding Company's common stock on that date was $15.16, and the shares were released utilizing the average historical cost method.

The Holding Company returned 2,371 and 1,984 forfeited restricted stock awards into treasury stock during the six months ended June 30, 2012 and June 30, 2011, respectively.