STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2012

Assumptions utilized in determining values

Fair Value of Stock Option Awards. The grant date fair value of option awards was estimated on the date of grant using the Black-Scholes option pricing model. The fair values of awards made in 2011 and 2010, as well as the assumptions utilized in determining such values, is presented below. There were no stock options granted by the Corporation's Board of Directors during 2012.

	2011			2010
Grant date fair value		$10.30			$9.13
Expected volatility		45.83	%		47.68	%
Expected dividends		3.03	%		3.19	%
Expected term (in years)		7.16			6.82
Risk-free interest rate		1.93	%		2.34	%

Summary of options outstanding

Stock Option Activity. The following table presents a summary of options outstanding under the Corporation's stock-based compensation plans as of December 31, 2012 and changes during the year then ended.

	Number of Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (yrs.)		Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2012		449,504			$22.31
Exercised		(129,285	)		20.14
Forfeited or expired		(16,158	)		21.20
Outstanding at December 31, 2012		304,061			$23.29		4.99	$	1,563
Exercisable at December 31, 2012		199,901			$22.31		3.95	$	1,209

Summary of status of non-vested shares and changes during the year

Restricted Stock Activity. On January 24, 2012, the Corporation's Board of Directors granted 29,824 RSUs under the 2006 Plan. The Corporation's financial performance for 2014 will determine the number of shares of common stock, if any, into which the RSUs will ultimately be converted. In the table that follows, the number of RSUs granted represents the maximum number of shares into which the RSUs can be converted. A summary of the status of the Corporation's non-vested shares as of December 31, 2012, and changes during the year then ended is presented below.

				Weighted-
				Average
	Number of			Grant-Date
	Shares			Fair Value
Nonvested at January 1, 2012		30,023			$24.62
Granted		29,824			24.23
Vested		(10,968	)		22.69
Forfeited		(3,435	)		22.69
Nonvested at December 31, 2012		45,444			$24.98