ACCOUNTING FOR STOCK BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2016

ACCOUNTING FOR STOCK BASED COMPENSATION [Abstract]

Summary of Activity Related to Stock Options

The following table presents a summary of activity related to stock options granted under the Stock Plans, and changes during the nine-month period then ended:

	Number of Options			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Years		Aggregate Intrinsic Value
Options outstanding at January 1, 2016		465,246		$	14.87
Options granted		-			-
Options exercised		(193,828	)		14.23
Options that expired prior to exercise		(10,000	)		18.18
Options outstanding at September 30, 2016		261,418		$	15.22		2.3	$	501
Options vested and exercisable at September 30, 2016		261,418		$	15.22		2.3	$	501

Information related to the Stock Plans during each period is as follows:

	At or for the Three Months Ended September 30,				At or for the Nine Months Ended September 30,
	2016		2015		2016		2015
Intrinsic value of options exercised	$	-	$	-	$	732	$	384
Compensation expense recognized		-		-		-		31

Summary of Activity Related to Restricted Stock Awards

The following table presents a summary of activity related to the restricted stock awards granted under the 2004 Stock Incentive Plan or 2013 Equity and Incentive Plan, and changes during the nine-month period then ended:

	Number of Shares			Weighted- Average Grant-Date Fair Value
Unvested allocated shares outstanding at January 1, 2016		223,894		$	15.36
Shares granted		60,675			18.11
Shares vested		(116,042	)		15.09
Shares forfeited		(14,346	)		16.39
Unvested allocated shares at September 30, 2016		154,181		$	16.55

Information related to restricted stock awards under the Stock Plans during each period is as follows:

	At or for the Three Months Ended September 30,				At or for the Nine Months Ended September 30,
	2016		2015		2016		2015
Weighted-average grant-date fair value of shares granted	$	-	$	-	$	18.11	$	15.92
Compensation expense recognized		366		434		1,195		1,418

Summary of Activity Related to Performance Based Equity Awards

The following table presents a summary of activity related to performance based equity awards, and changes during the nine-month period then ended:

	Number of Shares			Weighted- Average Grant- Date Fair Value
Maximum aggregate share payout at January 1, 2016		28,044		$	17.35
Shares forfeited		(3,314	)		17.35
Maximum aggregate share payout at September 30, 2016		24,730			17.35
Minimum aggregate share payout		-			-
Likely aggregate share payout		14,426		$	17.35