STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2013

STOCK-BASED COMPENSATION [Abstract]

Summary of stock option activity

A summary of stock option activity follows:

				Weighted-Average
	Number			Exercise Price
	of Shares			Per Share
Outstanding - January 1, 2013		211,500		$	15.41
Granted		25,000		$	14.26
Exercised		-			-
Forfeited or expired		(25,333	)	$	15.50
Outstanding - March 31, 2013		211,167		$	15.26

Information regarding options granted in current year

The following table presents information regarding stock options granted in 2013:

Black-Scholes Assumptions for Options Granted During the Three Months Ended March 31, 2013:
Risk-free interest rate	0.81	%
Expected dividend yield	-
Expected life in years	10
Expected volatility	43.11	%

Summary of options outstanding and exercisable

The following summarizes shares subject to purchase from stock options outstanding and exercisable as of March 31, 2013:

		Outstanding					Exercisable
				Weighted-Average					Weighted-Average
Range of				Remaining	Weighted-Average				Remaining		Weighted-Average
Exercise Prices		Shares		Contractual Life	Exercise Price		Shares		Contractual Life		Exercise Price
$	10.79 - $12.44		100,000	8.9 years	$	11.49		6,667		8.9 years	$	12.44
$	13.13 - $14.97		81,667	9.3 years	$	13.80		20,001		9.0 years	$	13.34
$	28.30 - $31.83		15,000	4.1 years	$	30.24		15,000		4.1 years	$	30.24
$	32.90 - $34.95		14,500	2.9 years	$	34.01		14,500		2.9 years	$	34.01
			211,167	8.3 years	$	15.26		56,168		6.1 years	$	23.08