STOCK BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2013

STOCK BASED COMPENSATION

Summary of stock option activity and related information

					Weighted
			Weighted		Average
	Number of		Average		Remaining	Aggregate
	Stock		Exercise		Contractual	Intrinsic
	Options		Price		Life	Value
	(Unaudited)
Outstanding at December 31, 2012	877,669		$	11.57	6.3 years	$	4,461,000
Granted	254,650		17.00
Exercised	(4,608	)	11.11
Forfeited / Cancelled	(100	)	12.94
Outstanding at March 31, 2013	1,127,611		$	12.80	6.9 years	$	4,645,000
Exercisable at March 31, 2013	588,976		$	11.20	4.9 years	$	3,353,000

Summary of unvested options and changes during the period

			Weighted
	Number of		Average
	Stock		Grant Date
	Options		Fair Value
	(Unaudited)
Unvested at December 31, 2012	310,661		$	3.36
Granted	254,650		4.20
Vested	(26,676	)	2.72
Forfeited / Cancelled	-		-
Unvested at March 31, 2013	538,635		$	3.79

Schedule of assumptions to determine the fair value of the options

Expected Dividend Yield	2.22	%
Expected Volatility	31.12	%
Risk-Free Interest Rate	1.19	%
Expected Option Life in Years	6.50

Summary of the status of the Company's restricted stock activity and balances

		Weighted
	Number of	Average
	Restricted	Grant Date
	Shares	Fair Value
	(Unaudited)
Unvested at December 31, 2012	130,557	$	12.41
Granted	122,450	17.00
Vested	(6,127)	11.09
Forfeited / Cancelled	-	-
Unvested at March 31, 2013	246,880	$	14.72