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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of weighted average assumptions as of grant date used to determine fair value of options granted




Risk-free interest rate	1.35	%	1.29	%	2.36	%
Expected term (years)	7.00		7.00		7.00
Expected stock price volatility	33.93	%	40.19	%	61.41	%
Dividend yield	1.77	%	0.42	%	0.46	%

Summary of stock option activity

Options (restated for stock dividends and splits)			Weighted Average Exercise Price			Aggregate Intrinsic Value


Outstanding, beginning of year	433,132		$	13.06
Granted	57,783			13.98
Exercised	(46,224	)		8.41
Forfeited or expired	(42,552	)		12.68


Outstanding at end of year	402,139		$	13.79	5.2	$	1,900
Exercisable at year end	295,680		$	14.21	3.9	$	1,327
Fully vested and expected to vest	392,516		$	13.81	5.1	$	1,852

Schedule of information related to the 2007 stock incentive plan and the 2003 plan

	2013		2012		2011


Intrinsic value of options exercised	$	265	$	124	$	—
Cash received from option exercises		389		120		—
Tax benefit realized from option exercises		25		12		—
Weighted average (per share) fair value of options granted		4.16		4.88		5.16

Summary of changes in the nonvested shares

			Weighted Average Grant Date Fair Value


Nonvested at January 1, 2013	94,305		$	10.79
Granted	47,971			14.46
Vested	(36,993	)		10.68
Forfeited	—			—


Nonvested at December 31, 2013	105,283		$	12.85

Schedule of shares awarded

Quarter			Price per Share


2011	2Q	6,750	$	9.53
	3Q	7,902	$	8.80
	4Q	9,130	$	9.44
2012	1Q	8,750	$	9.29
	2Q	7,200	$	11.83
	3Q	7,200	$	11.58
	4Q	7,200	$	12.25
2013	1Q	7,200	$	13.38
	2Q	26,100	$	13.79

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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