ACCOUNTING FOR STOCK BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2013

ACCOUNTING FOR STOCK BASED COMPENSATION [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity

Combined activity related to stock options granted under the Stock Plans during the periods presented was as follows:

	At or for the Three Months Ended September 30,						At or for the Nine Months Ended September 30,
	2013			2012			2013			2012
Options outstanding – beginning of period		2,273,733			2,830,302			2,456,137			2,893,760
Options granted		-			-			-			24,440
Options exercised		(493,690	)		(253,182	)		(671,312	)		(339,693	)
Options forfeited		-			(5,625	)		(4,782	)		(7,012	)
Options outstanding – end of period		1,780,043			2,571,495			1,780,043			2,571,495
Intrinsic value of options exercised	$	1,872		$	377		$	2,089		$	779
Compensation expense recognized		36			73			158			236
Remaining unrecognized compensation expense		177			408			177			408
Intrinsic value of outstanding options at period end		2,447			1,528			2,447			1,528
Intrinsic value of vested options at period end		2,347			1,293			2,347			1,293
Weighted average exercise price of vested options – end of period		16.53			15.65			16.53			15.65

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

There were no grants of stock options during the three-month periods ended September 30, 2013 and 2012, or the nine months ended September 30, 2013.  The  weighted average fair value per option at the date of grant for stock options granted during the nine months ended September 30, 2012 was estimated as follows:

Total options granted		24,440
Estimated fair value on date of grant	$	4.09
Pricing methodology utilized	Black- Scholes
Expected life (in years)		6.53
Interest rate		1.21	%
Volatility		45.17
Dividend yield		4.04

Schedule of Nonvested Restricted Stock Units Activity

The following is a summary of activity related to the restricted stock awards granted under the 2004 Stock Incentive Plan during the periods indicated:

	At or for the Three Months Ended September 30,				At or for the Nine Months Ended September 30,
	2013		2012		2013			2012
Unvested allocated shares – beginning of period		318,314		328,003		328,003			324,454
Shares granted		-		-		145,925			141,289
Shares vested		-		-		(155,614	)		(135,369	)
Shares forfeited		-		-		-			(2,371	)
Unvested allocated shares – end of period		318,314		328,003		318,314			328,003
Compensation recorded to expense	$	499	$	471	$	1,511		$	1,370