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ACCOUNTING FOR STOCK BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2018

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

	Number of Options			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Years		Aggregate Intrinsic Value
Options outstanding at January 1, 2018		157,546		$	15.53
Options granted		—			—
Options expired		(18,779	)		17.50
Options exercised		(66,372	)	$	17.10
Options outstanding at September 30, 2018		72,395		$	13.58		2.2	$	309
Options vested and exercisable at September 30, 2018		72,395		$	13.58		2.2	$	309

Information related to stock options during each period is as follows:

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
	2018			2017		2018			2017
Cash received for option exercise cost	$	—		$	54	$	954		$	680
Income tax benefit recognized on stock option exercises⁽¹⁾		(68	)		—		(44	)		69
Intrinsic value of options exercised		—			10		167			286

(1)	Effective January 1, 2017, income tax benefits were recognized as discrete items in income tax expense in accordance to ASU 2016-09. Prior to January 1, 2017, income tax benefits were recognized through additional paid in capital.

The following table presents a summary of activity related to the RSAs granted, and changes during the period then ended:

	Number of Shares			Weighted-Average Grant-Date Fair Value
Unvested allocated shares outstanding at January 1, 2018	$	150,567		$	18.85
Shares granted		63,612			19.75
Shares vested		(56,742	)		18.19
Shares forfeited		(2,014	)		19.39
Unvested allocated shares at September 30, 2018		155,423		$	19.45

Information related to restricted stock awards during each period is as follows:

	At or for the Three Months Ended September 30,				At or for the Nine Months Ended September 30,
	2018		2017		2018			2017
Compensation expense recognized	$	326	$	353	$	950		$	1,195
Income tax benefit (expense) recognized on vesting of RSA⁽¹⁾		0		3		(22	)		78
Weighted average remaining years for which compensation expense is to be recognized		2.5		2.8		2.5			2.8

(1)	Effective January 1, 2017, income tax benefits were recognized as discrete items in income tax expense in accordance to ASU 2016-09. Prior to January 1, 2017, income tax benefits were recognized through additional paid in capital.

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

	Number of Shares			Weighted-Average Grant-Date Fair Value
Maximum aggregate share payout at January 1, 2018		69,224		$	19.19
Shares granted		81,353			18.55
Shares vested		(3,536	)		18.83
Shares forfeited		(6,320	)		19.19
Maximum aggregate share payout at September 30, 2018		140,721		$	18.83
Minimum aggregate share payout		—			—
Expected aggregate share payout		93,813		$	18.83

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

	Number of Shares		Weighted-Average Grant-Date Fair Value
Maximum aggregate share payout at January 1, 2018		—	$	—
Shares granted		21,736		18.40
Shares vested		—		—
Shares forfeited		—		—
Maximum aggregate share payout at September 30, 2018		21,736	$	18.40
Minimum aggregate share payout		—		—
Expected aggregate share payout		21,736	$	18.40