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STOCK PLANS AND STOCK BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2014
STOCK PLANS AND STOCK BASED COMPENSATION  
Summary of stock option activity

 

 

 

Three Months Ended
March 31, 2014

 

 

 

Shares

 

Weighted
Average
Exercise Price

 

Outstanding, beginning of year

 

402,139

 

$

13.79

 

Granted

 

29,389

 

16.08

 

Exercised

 

(6,500

)

9.24

 

Forfeited or expired

 

(37,376

)

20.12

 

Outstanding, period end

 

387,652

 

$

13.43

 

Options exercisable at period end

 

256,004

 

$

13.43

 

Fully vested and expected to vest

 

375,671

 

$

13.41

Schedule of details of stock options outstanding

 

 

 

 

March 31,
2014

 

December 31,
2013

 

Stock options vested and currently exercisable:

 

 

 

 

 

Number

 

256,004

 

295,680

 

Weighted average exercise price

 

$

13.43

 

$

14.21

 

Aggregate intrinsic value

 

$

1,108

 

$

1,327

 

Weighted average remaining life (in years)

 

4.0

 

3.9

Schedule of unrecognized stock option compensation expense related to unvested awards

 

 

Year

 

(in thousands)

 

April 2014 - December 2014

 

$

147

 

2015

 

189

 

2016

 

93

 

2017

 

36

Summary of changes in the nonvested restricted shares

 

 

 

 

Restricted
Shares

 

Weighted Average
Grant Date
Fair Value

 

Nonvested at January 1, 2014

 

105,283

 

$

12.85

 

Granted

 

21,726

 

16.12

 

Vested

 

 

 

Forfeited

 

 

 

Nonvested at March 31, 2014

 

127,009

 

$

13.41

 

Schedule of shares awarded

 

 

Quarter

 

Shares

 

Price per Share

 

2013

1Q

 

7,200

 

$

13.38

 

 

2Q

 

26,100

 

$

13.79