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STOCK PLANS AND STOCK BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2013
STOCK PLANS AND STOCK BASED COMPENSATION  
Summary of stock option activity

 

 

Six Months Ended
June 30, 2013

 

 

 

Shares

 

Weighted
Average
Exercise Price

 

Outstanding, beginning of year

 

433,132

 

$

13.06

 

Granted

 

52,283

 

13.66

 

Exercised

 

(32,724

)

9.22

 

Forfeited or expired

 

(39,252

)

12.71

 

Outstanding, period end

 

413,439

 

$

13.47

 

Options exercisable at period end

 

280,646

 

$

14.12

 

Fully vested and expected to vest

 

401,190

 

$

13.50

 

Schedule of details of stock options outstanding

 

 

June 30,
2013

 

December 31,
2012

 

Stock options vested and currently exercisable:

 

 

 

 

 

Number

 

280,646

 

344,722

 

Weighted average exercise price

 

$

14.12

 

$

13.53

 

Aggregate intrinsic value

 

$

743

 

$

826

 

Weighted average remaining life (in years)

 

4.0

 

4.1

 

Schedule of unrecognized stock option compensation expense related to unvested awards

Year

 

(in thousands)

 

July 2013 - December 2013

 

$

98

 

2014

 

163

 

2015

 

158

 

2016

 

59

 

Summary of changes in the nonvested shares

 

 

Shares

 

Weighted Average Grant
Date Fair Value

 

 

 

 

 

 

 

Nonvested at January 1, 2013

 

94,305

 

10.79

 

 

 

 

 

 

 

Granted

 

35,680

 

$

13.67

 

 

 

 

 

 

 

Vested

 

36,993

 

10.68

 

 

 

 

 

 

 

Forfeited

 

0

 

0

 

 

 

 

 

 

 

Nonvested at June 30, 2013

 

92,992

 

$

12.90

 

Schedule of shares awarded

Quarter

 

Year

 

Shares

 

Price Per Share

 

1Q

 

2012

 

8,750

 

$

9.29

 

2Q

 

2012

 

7,200

 

$

11.83

 

3Q

 

2012

 

7,200

 

$

11.58

 

4Q

 

2012

 

7,200

 

$

12.25

 

1Q

 

2013

 

7,200

 

$

13.38

 

2Q

 

2013

 

6,525

 

$

13.79