Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2014

Stock-Based Compensation [Abstract]

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 for the nine months ended September 30, 2013:

Expected life of options	5.0 years
Risk-free interest rate		1.48	%
Expected volatility		70.02	%
Expected dividend yield		0.00	%
Weighted average fair value of options granted	$	2.12

Information regarding stock option plan

Information regarding Bancorp’s stock-based compensation plan as of and for the nine months ended September 30, 2014 is as follows:

	2014
	Shares			Weighted Average Price
Options outstanding, December 31, 2013		319,000		$	4.23
Options granted		-			-
Options exercised		(700	)	$	3.37
Options forfeited		(27,500	)	$	3.86
Options outstanding, September 30, 2014		290,800		$	4.26
Options exercisable, September 30, 2014		119,893		$	4.14

Summary of nonvested options in stock option plan

The following table summarizes the nonvested options in Bancorp’s stock-based compensation plan as of September 30, 2014.

	Shares			Weighted Average Grant Date Exercise Price
Nonvested options outstanding, December 31, 2013		236,383		$	4.29
Nonvested options granted		-			-
Nonvested options vested		(37,976	)	$	4.33
Nonvested options forfeited		(27,500	)	$	3.86
Nonvested options outstanding, September 30, 2014		170,907		$	4.35