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STOCK PLANS AND STOCK BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2014
STOCK PLANS AND STOCK BASED COMPENSATION  
Summary of stock option activity

 

 

 

 

Nine Months Ended
September 30, 2014

 

 

 

Shares

 

Weighted
Average
Exercise Price

 

Outstanding, beginning of year

 

402,139

 

$

13.79

 

Granted

 

31,327

 

16.11

 

Exercised

 

(6,500

)

9.24

 

Forfeited or expired

 

(48,726

)

18.48

 

Outstanding, period end

 

378,240

 

$

13.46

 

Options exercisable at period end

 

251,254

 

$

13.41

 

Fully vested and expected to vest

 

369,481

 

$

13.44

 

 

Schedule of details of stock options outstanding

 

 

 

 

September 30,
2014

 

December 31,
2013

 

Stock options vested and currently exercisable:

 

 

 

 

 

Number

 

251,254

 

295,680

 

Weighted average exercise price

 

$

13.41

 

$

14.21

 

Aggregate intrinsic value

 

$

1,119

 

$

1,327

 

Weighted average remaining life (in years)

 

3.5

 

3.9

 

 

Schedule of unrecognized stock option compensation expense related to unvested awards

 

 

Year

 

(in thousands)

 

October 2014 - December 2014

 

$

36

 

2015

 

170

 

2016

 

93

 

2017

 

38

 

Summary of changes in the non-vested restricted shares

 

 

 

Restricted
Shares

 

Weighted Average
Grant Date
Fair Value

 

Non-vested at January 1, 2014

 

105,283

 

$

12.85

 

Granted

 

34,337

 

16.30

 

Vested

 

(47,697

)

11.43

 

Forfeited

 

 

 

Non-vested at September 30, 2014

 

91,923

 

$

14.88

 

 

Schedule of shares awarded

 

Quarter

 

Shares

 

Price per Share

 

2013

1Q

 

7,200

 

$

13.38

 

 

2Q

 

26,100

 

$

13.79

 

2014

2Q

 

21,780

 

$

16.53