Benefit Plans

6 Months Ended

Jun. 30, 2011

Benefit Plans [Abstract]

Benefit Plans

Note 5:  Benefit Plans

The Company has stock-based employee compensation plans, which are described fully in the Company's December 31, 2010 Annual Report on Form 10-K.

The table below summarizes transactions under the Company's stock option plans for the six months ended June 30, 2011:

	Number of shares
	Incentive Stock Option			Non-Incentive Stock Option		Weighted Average Exercise Price
Balance outstanding as of January 1, 2011		194,750			170,829	$	16.14
Granted		-			-		-
Exercised		-			-		-
Forfeited		(3,750	)		-		10.63
Balance outstanding as of June 30, 2011		191,000			170,829		16.20
Options exercisable as of June 30, 2011		109,600			105,829		20.51

Stock-based compensation expense recognized for the three months ended June 30, 2011 and 2010 was $25,662 and $25,573, respectively.  Stock-based compensation expense recognized for the six months ended June 30, 2011 and 2010 was $51,411 and $53,972, respectively.  As of June 30, 2011, there was $222,981 of unrecognized compensation expense related to nonvested stock options, which will be recognized over the remaining vesting period.

In January 2011, the Company granted restricted stock to directors that was fully vested and thus, expensed in full during the six months ended June 30, 2011.  The amount expensed was $100,017 for the first quarter which represents 16,952 shares of common stock at a market price of $5.90 at the date of grant.