Stock Based Compensation

3 Months Ended

Mar. 31, 2014

The Company has two share-based compensation plans, which are described in the Company’s December 31, 2013 Annual Report on Form 10-K. The compensation cost that has been charged against income for those plans was approximately $281 and $200 for the three months ended March 31, 2014 and 2013, respectively. The Company has no nonqualified stock options outstanding at March 31, 2014.

A summary of option activity during the three months ended March 31, 2014 and 2013 is presented below:



March 31, 2014	Options Outstanding		Weighted Avg. Exercise Price		Weighted Avg. Grant Date Fair Value		Aggregate Intrinsic Value		Weighted Avg. Contractual Term
Balances at December 31, 2013	221,250		$	8.88	$	3.19	$	533	4.80 years
Granted	3,000		11.00		4.29
Exercised	(5,320	)	3.72		1.19		40
Balances at March 31, 2014	218,930		9.04		3.25		585		4.59 years
Exercisable at March 31, 2014	173,808		$	9.19	$	3.22	$	461	3.56 years



March 31, 2013
Balances at December 31, 2012	208,750		$	8.80	$	2.93	$	370	4.83 years
Granted	3,800		8.86		3.74
Exercised	(400	)	7.35		1.09		0
Expired	(1,700	)	7.14		1.09
Balances at March 31, 2013	210,450		8.81		2.96		394		4.73 years
Exercisable at March 31, 2013	171,688		$	9.58	$	3.18	$	244	4.13 years

Cash received from options exercised under all share-based payment arrangements for the three months ended March 31, 2014 and 2013 was $20 and $3, respectively.

Information regarding options vested during the three months ended March 31, 2014 and 2013 are as follows:

A summary of restricted stock activity during the three months ended March 31, 2014 and 2013 is presented below:



	March 31, 2014				March 31, 2013
	Non-Vested Restricted Stock Outstanding		Weighted Average Grant Date Fair Value		Non-Vested Restricted Stock Outstanding		Weighted Average Grant Date Fair Value
Beginning balance outstanding	0		$	0.00	11,730		$	4.05
Granted	24,660		11.00		20,536		8.87
Vested	(24,660	)	11.00		(32,266	)	7.12
Ending balance outstanding	0		$	0.00	0		$	0.00

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details

Three months ended

Number of options vested:

Total grant date fair value of options vested