Stock Option Plans (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Status and Changes in Stock Option Plan

The following is a summary of the status of the Company’s stock option plans and changes in these plans during 2012.

	2012
Options	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life	Aggregate Intrinsic Value
Outstanding, beginning of year		817,815	$	11.09
Granted		58,000		11.37
Exercised		67,916		8.12
Forfeited/expired		19,540		14.76
Outstanding, end of year		788,359	$	11.27	7.3 years	$	1,753
Options exercisable at year end		770,959	$	11.31

Assumptions Used to Determine Fair Value of Options Granted

The following assumptions were used to determine the fair value of options granted in 2012 and 2011:

	2012			2011
Risk-free interest rate		1.70	%		1.96	%
Expected option life		10.0 yrs			9.3 yrs
Dividend yield		3.45	%		3.55	%
Expected volatility of stock price		31.50	%		32.05	%