Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Information regarding Bancorp’s stock option plan as of and for the years ended December 31, 2014 and 2013 is as follows:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Life		Aggregate Intrinsic Value
Options outstanding, December 31, 2012		81,000		$	4.23
Options granted		260,000			4.17
Options exercised		-			-
Options forfeited		(22,000	)		3.61
Options outstanding, December 31, 2013		319,000			4.23
Options granted		50,000			4.67
Options exercised		(700	)		3.37
Options forfeited		(40,100	)		3.93
Options outstanding, December 31, 2014		328,200			4.33		3.03	$	122,160
Options exercisable, December 31, 2014		129,695			4.16		1.75	$	60,033
Option price range at December 31, 2014		$3.37 to $5.31

The following weighted average assumptions were used to value options granted in current and prior periods presented.

	2014			2013
Expected life of options	5.5 years			5.0 years
Risk-free interest rate		1.76	%		1.09	%
Expected volatility		66.61	%		79.14	%
Expected dividend yield		0.00	%		0.00	%
Weighted average fair value of options granted	$	2.63		$	2.58

The following table summarizes the nonvested options in Bancorp’s stock option plan as of December 31, 2014.

	Shares			Weighted Average Exercise Price
Nonvested options outstanding, December 31, 2013		236,383		$	4.29
Nonvested options granted		50,000			4.67
Nonvested options vested		(47,778	)		4.35
Nonvested options forfeited		(40,100	)		3.93
Nonvested options outstanding, December 31, 2014		198,505		$	4.44