STOCK PLANS (Tables)

3 Months Ended

Mar. 31, 2018

STOCK PLANS [Abstract]

Stock Option Activity

The following table presents the activity related to stock options for the three months ended March 31, 2018:

	Number of Shares			Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term (in years)
Options outstanding at Beginning of Period		260,592		$	7.42
Granted		69,868		$	13.03
Expired		(3,412	)	$	11.90
Cancelled / Forfeited		—		$	—
Exercised		(13,539	)	$	7.05
Options outstanding at End of Period		313,509		$	8.64	$	1,488,836		7.52
Exercisable (vested) at End of Period		154,508		$	6.32	$	1,091,848		6.02

Weighted Average Assumptions Used in Valuing Stock Options Granted

A summary of the weighted average assumptions used in valuing stock options during the three months ended March 31, 2018 is presented below:

	Three Months Ended March 31, 2018
Risk Free Interest Rate		2.57	%
Expected Dividend Yield		0.00	%
Expected Life in Years		5
Expected Price Volatility		14.44	%

Activity Related to Restricted Stock

The following table presents the activity related to non-vested restricted stock for the three months ended March 31, 2018:

	Number of Shares			Weighted Average Grant-Date Fair Value		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term (in years)
Non-vested Restricted stock outstanding at Beginning of Period		111,848		$	7.85
Granted		25,769		$	13.03
Cancelled/Forfeited		—		$	—
Exercised/Released/Vested		(23,908	)	$	6.22
Non-vested restricted stock outstanding at End of Period		113,709		$	9.37	$	1,522,564	$	3.07

Summary of Weighted Average Assumptions Used in Valuing ESPP

A summary of the weighted average assumptions used in valuing ESPP issuances during the three months ended March 31, 2018 is presented below:

	Three Months Ended March 31, 2018
Risk Free Interest Rate		1.61	%
Expected Dividend Yield		0.00	%
Expected Life in Years		1.00
Expected Price Volatility		12.50	%