STOCK PLANS AND STOCK BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 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	2,500		35.26
Exercised	(2,000)		16.61
Forfeited or expired	(2,000)		24.93
Outstanding, June 30, 2017	311,100	$	24.62	3.34	$	3,446,803
Fully vested and unvested	311,100	$	24.62	3.34	$	3,446,803
Exercisable (vested) at June 30, 2017	—	$	—	—	$	—

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

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share data)	2017		2016		2017		2016
Intrinsic value of options exercised	$	—	$	2	$	44	$	18
Cash received from options exercised, net of shares redeemed		—		25		33		80
Weighted-average fair value per share of options granted		5.61		3.27		5.61		3.27

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	7,413		35.77
Forfeited	—		—
Earned and issued	(3,702)		35.12
Outstanding, June 30, 2017	80,711	$	20.78
Fully vested and unvested	80,711	$	20.78
Vested at June 30, 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	(2,500)		25.29
Earned and issued	—		—
Outstanding, June 30, 2017	52,500	$	23.08
Fully vested and unvested	52,500	$	23.08
Vested at June 30, 2017	—	$	—

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in thousands)	2017		2016		2017		2016
Stock option expense	$	63	$	64	$	126	$	126
Restricted stock award expense		77		45		292		117
Performance stock unit expense		105		127		237		254
Total expense	$	245	$	236	$	655	$	497

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	$	129	$	151	$	237	$	517
2018		254		138		198		590
2019		146		35		—		181
2020		35		27		—		62
2021		3		12		—		15
2022		1		2		—		3
Total	$	568	$	365	$	435	$	1,368