STOCK OPTIONS (Tables)

6 Months Ended

Jun. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

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

No options were granted in the six months ended June 30, 2016. In 2015, the following stock option grants were made:

Option Date	Options Granted		Exercise Price		Estimated Fair Value of Underlying Stock		Intrinsic Value
May 2015		71,040	$	29.71	$	5.79	None

A summary of option activity for the Plan as of June 30, 2016 and changes for the six months then ended are represented as follows:

	Number of Options		Weighted Avg. Exercise Price		Weighted Average Remaining Contract Term (Years)		Aggregate Intrinsic Value
Options outstanding January 1, 2016		71,040	$	29.71		9.50	$	—
Granted		—		—		—		—
Forfeited		51,512		—		—		—
Outstanding at June 30, 2016		19,528	$	29.71		9.00	$	—

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

A summary of significant assumptions used to estimate the fair value of the stock options granted in 2015 are as follows:

Weighted average fair value of options granted	$	0.45
Expected term (years)2		6.0 to 6.25
Risk-free interest rate		1.89	%
Volatility		45.4	%
Dividend yield		None