STOCK BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of Common Stock Outstanding Roll Forward [Table Text Block]

A summary of the status of outstanding stock options at March 31, 2015 and changes therein was as follows:

	2015
	Number of Shares		Weighted Average Exercise Price
Options outstanding at the beginning of year		209,808	$	9.36
Granted		162,566		8.60
Forfeited		(698)		11.12
Exercised		-		-
Expired		-		-
Options outstanding at March 31, 2015		371,676	$	9.02
Options exercisable at March 31, 2015		99,110	$	11.17
Weighted-average fair value of options granted during the year			$	2.61

Schedule of Share-based Compensation, Activity [Table Text Block]

The exercise price and weighted average remaining contractual life in years for all options outstanding at March 31, 2015 are detailed below.

Outstanding as of March 31, 2015	Exercise Price		Weighted Average Remaining Contractual Life (in years)
95,718	$	11.12	0.3
3,392	$	12.51	2.0
110,000	$	7.74	9.2
162,566	$	8.60	9.8
371,676

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Assumptions used to determine the weighted average fair value of the stock options granted were as follows:

	Grant Date
	May 27, 2014			January 31, 2015
Dividend yield		0.00	%		0.00	%
Expected volatility		28.42	%		26.76	%
Risk-free rate		1.95	%		1.49	%
Expected life in years		6.5			6.5
Weighted-average fair value of options at grant date	$	2.55		$	2.61

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Units, Vested and Expected to Vest [Table Text Block]

The following table summarizes the restricted stock awards outstanding for the year ended December 31, 2014 and the three months ended March 31, 2015:

	Number of Shares		Weighted Average Fair Value on Grant Date
Nonvested at January 1, 2014		-	$	-
Granted		4,114		8.01
Vested		-		-
Forefeited		-		-
Nonvested at December 31, 2014		4,114		8.01
Granted		-		-
Vested		-		-
Forefeited		-		-
Nonvested at March 31, 2015		4,114	$	8.01
Weighted average remaining contractual life in years				9.7