Note 13 - Stock Based Compensation

6 Months Ended

Jun. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 13:    STOCK BASED COMPENSATION

The Company’s Board of Directors has adopted various stock compensation plans.  The plans provide for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, and bonus stock awards.  Pursuant to the plans, shares are reserved for future issuance by the Company upon the exercise of stock options or awarding of bonus shares granted to directors, officers and other key employees.

The table below summarizes the transactions under the Company's active stock compensation plans for the six months ended June 30, 2013:

	Stock Options Outstanding					Non-Vested Stock Awards Outstanding
	Number of Shares			Weighted Average Exercise Price		Number of Shares			Weighted Average Grant-Date Fair-Value
Balance, January 1, 2013		217,650		$	26.77		134,730		$	25.89
Granted		--			--		64,006			25.57
Stock Options Exercised		(4,000	)		23.78		--			--
Stock Awards Vested		--			--		(46,975	)		26.92
Forfeited/Expired		(2,522	)		26.88		--			--
Balance, June 30, 2013		211,128		$	26.82		151,761		$	25.52
Exercisable, June 30, 2013		211,128		$	26.82

The following table summarizes information about stock options under the plans outstanding at June 30, 2013:

			Options Outstanding						Options Exercisable
Range of Exercise Prices			Number of Shares		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number of Shares		Weighted Average Exercise Price
$23.78	-	$23.78		41,800		1.1	$	23.78		41,800	$	23.78
24.50	-	24.50		30,800		1.9		24.50		30,800		24.50
26.19	-	27.67		48,100		2.8		26.20		48,100		26.20
28.42	-	28.42		46,100		3.7		28.42		46,100		28.42
30.31	-	30.31		44,328		4.7		30.31		44,328		30.31

Total stock-based compensation expense was $714,000 and $769,000 during the six months ended June 30, 2013 and 2012, respectively.  Stock-based compensation expense is recognized ratably over the requisite service period for all stock-based awards.  There was no unrecognized stock-based compensation expense related to stock options at June 30, 2013. Unrecognized stock-based compensation expense related to non-vested stock awards was $3,036,000 at June 30, 2013.  At such date, the weighted-average period over which this unrecognized expense is expected to be recognized was 2.55 years.

The intrinsic value of stock options outstanding and stock options exercisable at June 30, 2013 was $145,000.  Intrinsic value represents the difference between the Company’s closing stock price on the last trading day of the period, which was $26.09 as of June 30, 2013, and the exercise price multiplied by the number of options outstanding and exercisable at a price below that closing price.  The total intrinsic value of stock options exercised during the six months ended June 30, 2013 was $9,000.  There were no stock options exercised during the six months ended June 30, 2012.