STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2018

STOCK-BASED COMPENSATION

Summary of share activity for all equity and liability classified stock compensation

A summary of share activity for all equity classified stock compensation during the three months ended March 31, 2018, is presented below:

	Shares		Vested /			Shares
	Outstanding	Granted	Exercised	Expired	Forfeited	Outstanding
Type of Award	at 1/1/2018	Shares	Shares	Shares	Shares	at 3/31/2018
Equity Classified - Performance Share Awards - Peer Group Market Condition Vesting	12,635	15,445	—	—	—	28,080
Equity Classified - Market Condition Restricted Shares - Stock Price Vesting	29,750	—	(7,750)	—	—	22,000
Equity Classified - Three Year Vest Restricted Shares	37,390	17,712	(18,883)	—	—	36,219
Equity Classified - Non-Qualified Stock Option Awards	90,000	—	—	—	—	90,000
Total Shares	169,775	33,157	(26,633)	—	—	176,299

Schedule of amounts recognized for stock options, stock appreciation rights, and restricted stock

	Three Months Ended
	March 31, 2018		March 31, 2017
Total Cost of Share-Based Plans Charged Against Income Before Tax Effect	$	467,271	$	353,579
Income Tax Expense Recognized in Income	$	(118,430)	$	(136,393)

Peer Group Market Condition Vesting

STOCK-BASED COMPENSATION

Summary of nonvested restricted stock award activity

A summary of activity during the three months ended March 31, 2018, is presented below: 

		Wtd. Avg.
Performance Shares with Market Conditions	Shares	Fair Value
Outstanding at January 1, 2018	12,635	$	55.66
Granted	15,445		74.99
Vested	—		—
Expired	—		—
Forfeited	—		—
Outstanding at March 31, 2018	28,080	$	66.29

Stock Price Vesting

STOCK-BASED COMPENSATION

Summary of nonvested restricted stock award activity

A summary of the activity for these awards during the three months ended March 31, 2018, is presented below:

		Wtd. Avg.
Market Condition Non-Vested Restricted Shares	Shares	Fair Value
Outstanding at January 1, 2018	29,750	$	39.07
Granted	—		—
Vested	(7,750)		31.58
Expired	—		—
Forfeited	—		—
Outstanding at March 31, 2018	22,000	$	41.71

Three-Year Vesting

STOCK-BASED COMPENSATION

Summary of nonvested restricted stock award activity

A summary of activity during the three months ended March 31, 2018, is presented below:

		Wtd. Avg.
		Fair Value
Three Year Vest Non-Vested Restricted Shares	Shares	Per Share
Outstanding at January 1, 2018	37,390	$	51.39
Granted	17,712		65.33
Vested	(18,883)		51.57
Expired	—		—
Forfeited	—		—
Outstanding at March 31, 2018	36,219	$	58.12

Amended and Restated 2010 Equity Incentive Plan

STOCK-BASED COMPENSATION

Summary of activity for stock option awards

A summary of the activity for the awards during the three months ended March 31, 2018, is presented below: 

				Wtd. Avg.
				Remaining
				Contractual		Aggregate
		Wtd. Avg.		Term		Intrinsic
Non-Qualified Stock Option Awards	Shares	Ex. Price		(Years)		Value
Outstanding at January 1, 2018	90,000	$	52.71
Granted	—		—
Exercised	—		—
Expired	—		—
Forfeited	—		—
Outstanding at March 31, 2018	90,000	$	52.71	6.73	$	912,900
Exercisable at January 1, 2018	73,000	$	51.94	6.88	$	843,968
Exercisable at March 31, 2018	86,600	$	52.52	6.71	$	894,846

Summary of non-vested stock option awards

				Wtd. Avg.
				Remaining
				Contractual		Aggregate
		Wtd. Avg.		Term		Intrinsic
Non-Qualified Stock Option Awards	Shares	Ex. Price		(Years)		Value
Outstanding at January 1, 2018	90,000	$	52.71
Granted	—		—
Exercised	—		—
Expired	—		—
Forfeited	—		—
Outstanding at March 31, 2018	90,000	$	52.71	6.73	$	912,900
Exercisable at January 1, 2018	73,000	$	51.94	6.88	$	843,968
Exercisable at March 31, 2018	86,600	$	52.52	6.71	$	894,846

A summary of the non-vested options for these awards during the three months ended March 31, 2018, is presented below:

		Fair Value
		of Shares
Non-Qualified Stock Option Awards	Shares	Vested
Non-Vested at January 1, 2018	17,000
Granted	—
Vested	(13,600)	$	756,432
Expired	—
Forfeited	—
Non-Vested at March 31, 2018	3,400