STOCK PLANS (Tables)

3 Months Ended

Mar. 31, 2019

STOCK PLANS [Abstract]

Stock Option Activity

The following table presents the activity related to stock options for the three months ended March 31, 2019:

	Number of Shares			Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term (in years)
Options outstanding at Beginning of Period		329,160		$	8.23
Granted		77,666		$	10.86
Expired		—		$	—
Cancelled / Forfeited		(1,689	)		12.41
Exercised		—		$	—
Options outstanding at End of Period		405,137		$	8.72	$	1,192,539		7.16
Exercisable (vested) at End of Period		224,595		$	6.95	$	1,038,576		5.71

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, 2019 is presented below:

	Three Months Ended March 31, 2019
Risk Free Interest Rate		2.47	%
Expected Dividend Yield		0.00	%
Expected Life in Years		5
Expected Price Volatility		11.86	%

Activity Related to Restricted Stock

The following table presents the activity related to non-vested restricted stock for the three months ended March 31, 2019:

	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		118,391		$	8.94
Granted		42,262		$	10.86
Cancelled / Forfeited		—			—
Exercised/Released/Vested		(33,922	)	$	6.64
Non-vested restricted stock outstanding at End of Period		126,731		$	10.19	$	1,457,407		3.13

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, 2019 is presented below:

	Three Months Ended March 31, 2019
Risk Free Interest Rate		2.67	%
Expected Dividend Yield		0.00	%
Expected Life in Years		1.00
Expected Price Volatility		8.47	%