STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2016

Activity of Stock Options

The activity of stock options granted under the 1997 stock option plan for the quarter ended March 31, 2016 is set forth below:
	Number of Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In thousands)
Beginning of period outstanding
and exercisable	69,848	$	160.30
Options expired	(29,993)		190.07
End of period outstanding and
exercisable	39,855	$	137.89	0.8	$	-

Restricted Stock Activity Under Omnibus Plan

The following table summarizes the restricted stock activity in the first quarter of 2016 under the Omnibus Plan for both executive officers covered by the TARP requirements and other employees as well as for the independent directors:
	Quarter Ended
	March 31, 2016
	Number of
	shares of		Weighted-Average
	restricted		Grant Date
	stock		Fair Value
Non-vested shares at beginning of period	2,968,461	$	3.34
Granted	1,785,137		1.62
Vested	(377,747)		3.35
Non-vested shares at March 31, 2016	4,375,851	$	2.64