Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2012

Information regarding Bancorp's stock option plan as of and for the years ended December 31, 2012, 2011 and 2010 is as follows:

						Weighted
				Weighted		Average	Aggregate
				Average		Remaining	Intrinsic
	Shares			Price		Life	Value
Options outstanding, December 31, 2009		110,715		$	15.88
Options granted		100,000			4.21
Options exercised		-			-
Options forfeited		(19,965	)		15.62		$	-
Options outstanding, December 31, 2010		190,750			9.79
Options granted		-			-
Options exercised		-			-
Options forfeited		(90,750	)		15.93		$	-
Options outstanding, December 31, 2011		100,000			4.21
Options granted		-			-
Options exercised		-			-
Options forfeited		(19,000	)		4.13
Options outstanding, December 31, 2012		81,000		$	4.23	4.23	$	-
Options exercisable, December 31, 2012		45,225		$	4.23	2.20	$	-
Option price range at December 31, 2012	$	4.13 to $4.54

Stock options valuation assumptions

The stock-based compensation expense amounts were derived using the Black-Scholes option-pricing model. The following weighted average assumptions were used to value options granted in current and prior periods presented.

Expected life of options	5.0 years
Risk-free interest rate		3.60	%
Expected volatility		55.94	%
Expected dividend yield		2.52	%

Summary of nonvested options in stock option plan

The following table summarizes the nonvested options in Bancorp's stock option plan as of December 31, 2012.

				Weighted
				Average
	Shares			Grant Date Fair Value
Nonvested options outstanding, December 31, 2011		64,166		$	4.21
Nonvested options granted		-			-
Nonvested options vested		(16,200	)		4.23
Nonvested options forfeited		(12,191	)		4.13
Nonvested options outstanding, December 31, 2012		35,775		$	4.23