STOCK PLANS AND STOCK BASED COMPENSATION (Tables)

9 Months Ended

Sep. 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	4,500		35.54
Exercised	(2,000)		16.61
Forfeited or expired	(2,000)		24.93
Outstanding, September 30, 2017	313,100	$	24.69	3.01	$	4,445,192
Fully vested and unvested	313,100	$	24.69	3.01	$	4,445,192
Exercisable (vested) at September 30, 2017	1,500	$	23.65	0.95	$	22,860

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

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share data)	2017		2016		2017		2016
Intrinsic value of options exercised	$	—	$	—	$	44	$	18
Cash received from options exercised, net of shares redeemed		—		—		33		80
Weighted-average fair value per share of options granted		—		—		3.99		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	(4,803)		35.68
Outstanding, September 30, 2017	79,610	$	20.54
Unvested	79,610	$	20.54

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, September 30, 2017	52,500	$	23.08
Unvested	52,500	$	23.08

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands)	2017		2016		2017		2016
Stock option expense	$	65	$	58	$	191	$	184
Restricted stock award expense		81		72		373		189
Performance stock unit expense		127		127		364		381
Total expense	$	273	$	257	$	928	$	754

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	$	65	$	70	$	127	$	262
2018		257		138		198		593
2019		148		35		—		183
2020		37		27		—		64
2021		5		12		—		17
2022		1		2		—		3
Total	$	513	$	284	$	325	$	1,122