STOCK COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Activity in Plans

A summary of activity in the plans is as follows:

	For the nine months ended
	September 30, 2016
				Weighted		Aggregate
				average		intrinsic value
	Shares			exercise price		(in thousands)
Outstanding at beginning of year		572,323		$	2.56
Granted		—
Exercised		(165,405	)		2.80
Forfeited and expired		(1,200	)		2.10
Outstanding at end of period		405,718			2.47	$	1,876
Options exercisable at end of period		397,419			2.41	$	1,868

Information Related to Stock Option Plans

Information related to the stock option plans for the nine months ended September 30, 2016 and 2015 follows:

	September 30, 2016		September 30, 2015
Intrinsic value of options exercised	$	630,694	$	43,641
Cash received from option exercises		462,000		26,000
Tax benefit realized from option exercises		—		—
Weighted average fair value of options granted, per share	$	—	$	1.70

Weighted-Average Assumptions for Determining Fair Value of Options Granted

The fair value of options granted during the three and nine months ended September 30, 2015 was determined using the following weighted-average assumptions as of the grant date:

	Three months ended			Nine months ended
	September 30, 2015			September 30, 2015
Risk-free interest rate		1.63	%		1.49	%
Expected term (years)		5			5
Expected stock volatility		35.05	%		35.95	%
Dividend yield		0.74	%		0.74	%

Summary of Changes in Company's Nonvested Restricted Shares

A summary of changes in the Company’s nonvested restricted shares for the nine months ended September 30, 2016 is as follows:

	For the nine months ended
	September 30, 2016
				Weighted
				average
				grant date
	Shares			fair value
Nonvested at beginning of year		260,490		$	4.68
Granted		192,874		$	6.00
Vested		(107,258	)	$	4.58
Forfeited		(2,928	)	$	4.53
Nonvested shares at end of period		343,178		$	5.45