STOCK PLANS (Tables)

9 Months Ended

Sep. 30, 2020

STOCK PLANS [Abstract]

Stock Option Activity

The following table presents the activity related to stock options for the three months ended September 30, 2020.

	Number of Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term (in years)
Options outstanding at Beginning of Period		588,420	$	9.31
Granted		—		—
Expired		—		—
Cancelled / Forfeited		—		—
Exercised		—		—
Options outstanding at End of Period		588,420	$	9.31	$	456,692		6.94
Exercisable (vested) at End of Period		293,924	$	7.59	$	456,692		5.14

The following table presents the activity related to stock options for the nine months ended September 30, 2020.

	Number of Shares			Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term (in years)
Options outstanding at Beginning of Period		425,373		$	8.30
Granted		178,087		$	11.19
Expired		—		$	—
Cancelled / Forfeited		—			—
Exercised		(15,040	)		3.11
Options outstanding at End of Period		588,420		$	9.31	$	456,692		6.94
Exercisable (vested) at End of Period		293,924		$	7.59	$	456,692		5.14

Weighted Average Assumptions Used in Valuing Stock Options Granted

A summary of the weighted average assumptions used in valuing stock options during the three and nine months ended September 30, 2020 is presented below:

	Three Months Ended September 30, 2020*		Nine Months Ended September 30, 2020
Risk Free Interest Rate		—		1.42	%
Expected Dividend Yield		—		0.00	%
Expected Life in Years		—		5
Expected Price Volatility		—		10.18	%

* There were no stock options granted during the three months ended September 30, 2020.

Activity Related to Restricted Stock

The following table presents the activity related to non-vested restricted stock for the three months ended September 30, 2020.

	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		140,971	$	10.84	_		_
Granted		700		8.00
Cancelled / Forfeited		—		—
Exercised/Released/Vested		—		—
Non-vested restricted stock outstanding at End of Period		141,671	$	10.82	$	1,161,702		2.68

The following table presents the activity related to non-vested restricted stock for the nine months ended September 30, 2020.

	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		131,661	$	9.72	_ _		_ _
Granted		41,685		11.14
Cancelled / Forfeited		(858)		10.74
Exercised/Released/Vested		(30,817)		6.56
Non-vested restricted stock outstanding at End of Period		141,671	$	10.82	$	1,161,702		2.68

Weighted Average Assumptions Used in Valuing ESPP

A summary of the weighted average assumptions used in valuing ESPP issuances during the three and nine months ended September 30, 2020 is presented below.

	Three Months Ended September 30, 2020			Nine Months Ended September 30, 2020
Risk Free Interest Rate		1.56	%		1.56	%
Expected Dividend Yield		0.00	%		0.00	%
Expected Life in Years		1.00			1.00
Expected Price Volatility		13.09	%		13.09	%