STOCK PLANS AND STOCK BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2017

STOCK PLANS AND STOCK BASED COMPENSATION

Summary of stock option activity

				Weighted
		Weighted		Average
	Options	Average		Remaining	Aggregate
	Class A	Exercise		Contractual	Intrinsic
	Shares	Price		Term	Value
Outstanding, January 1, 2016	323,400	$	24.40
Granted	5,000		26.43
Exercised	(4,000)		20.12
Forfeited or expired	(11,800)		24.47
Outstanding, December 31, 2016	312,600	$	24.49	3.77	$	4,705,807
Outstanding, January 1, 2017	312,600	$	24.49
Granted	—		—
Exercised	(2,000)		16.61
Forfeited or expired	—		—
Outstanding, March 31, 2017	310,600	$	24.54	3.55	$	3,060,357
Fully vested and unvested	310,600	$	24.54	3.55	$	3,060,357
Exercisable (vested) at March 31, 2017	2,000	$	24.93	0.11	$	18,920

Schedule of intrinsic value and cash received from options exercised and weighted average fair value of options granted

	Three Months Ended March 31,
(in thousands, except per share data)	2017		2016
Intrinsic value of options exercised	$	44	$	16
Cash received from options exercised, net of shares redeemed		33		55
Weighted-average fair value per share of options granted		NA		NA

Summary of activity for non-vested restricted stock awards

	Restricted
	Stock Awards	Weighted-Average
	Class A Shares	Grant Date Fair Value
Outstanding, January 1, 2016	79,000	$	20.02
Granted	—		—
Forfeited	(2,000)		19.85
Earned and issued	—		—
Outstanding, December 31, 2016	77,000	$	20.02
Outstanding, January 1, 2017	77,000	$	20.02
Granted	4,803		35.12
Forfeited	—		—
Earned and issued	(3,702)		37.54
Outstanding, March 31, 2017	78,101	$	20.27
Fully vested and unvested	78,101	$	20.27
Vested at March 31, 2017	—	$	—

Summary of PSU activity

	Performance
	Stock Units	Weighted-Average
	Class A Shares	Grant Date Fair Value
Outstanding, January 1, 2016	—	$	—
Granted	55,000		23.13
Forfeited	—		—
Earned and issued	—		—
Outstanding, December 31, 2016	55,000	$	23.13
Outstanding, January 1, 2017	55,000	$	23.13
Granted	—		—
Forfeited	—		—
Earned and issued	—		—
Outstanding, March 31, 2017	55,000	$	23.13
Fully vested and unvested	55,000	$	23.13
Vested at March 31, 2017	—	$	—

Schedule of expenses recorded related to stock options and restricted stock awards

	Three Months Ended
	March 31,
(in thousands)	2017		2016
Stock option expense	$	63	$	62
Restricted stock award expense		215		72
Performance stock unit expense		132		127
Total expense	$	410	$	261

Schedule of estimated unrecognized stock option and restricted stock award expense related to unvested options and awards (net of estimated forfeitures)

	Stock			Restricted	Performance
Year Ended (in thousands)	Options			Stock Awards	Stock Units		Total
2017	$	191	$	187	$	396	$	774
2018		251		12		220		483
2019		143		12		—		155
2020		32		8		—		40
2021		1		2		—		3
2022		—		—		—		—
Total	$	618	$	221	$	616	$	1,455