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STOCK BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Common Stock Outstanding Roll Forward [Table Text Block]
A summary of the status of outstanding stock options at September 30, 2015 and changes therein was as follows:
 
 
 
2015
 
 
 
Number of
 
Weighted Average
 
 
 
Shares
 
Exercise Price
 
Options outstanding at the beginning of year
 
 
209,808
 
$
9.36
 
Granted
 
 
162,566
 
 
8.60
 
Forfeited
 
 
(2,947)
 
 
9.41
 
Exercised
 
 
-
 
 
-
 
Expired
 
 
(95,469)
 
 
11.12
 
Options outstanding at September 30, 2015
 
 
273,958
 
$
8.30
 
 
 
 
 
 
 
 
 
Options exercisable at September 30, 2015
 
 
25,392
 
$
8.38
 
 
 
 
 
 
 
 
 
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 September 30, 2015 are detailed below.
 
 
 
 
 
Weighted Average
 
Outstanding as of
 
 
 
Remaining
 
September 30,
 
 
 
Contractual Life
 
2015
 
Exercise Price
 
(in years)
 
 
3,392
 
$
12.51
 
 
1.5
 
 
110,000
 
$
7.74
 
 
8.7
 
 
160,566
 
$
8.60
 
 
9.3
 
 
273,958
 
 
 
 
 
 
 
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 nine months ended September 30, 2015:
 
 
 
 
 
Weighted
 
 
 
 
 
Average Fair
 
 
 
Number of
 
Value on
 
 
 
Shares
 
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 September 30, 2015
 
 
4,114
 
$
8.01
 
 
 
 
 
 
 
 
 
Weighted average remaining contractual life in years
 
 
 
 
 
4.1