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SHAREHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2016
SHAREHOLDERS' EQUITY [Abstract]  
Estimated Fair Value Option Granted
The Company uses the Black-Scholes pricing model to estimate the fair value of each option granted with the following weighted average assumptions:
 
  
For years ended December 31,
 
Valuation Assumptions
 
2014
  
2015
  
2016
 
          
Expected life (1)
  
4.5
   
3.3
   
3.3
 
Risk-free interest rate (2)
  
1.45
%
  
1.00
%
  
1.21
%
Expected volatility (3)
  
35
%
  
35
%
  
39
%
Expected dividend yield
  
6.05
%
  
6.93
%
  
7.81
%
Expected forfeiture (4)
  
18.32
%
  
27.00
%
  
27.00
%
 
(1)
The expected life, in years, of stock options is estimated based on historical experience.
(2)
The risk-free interest rate is based on U.S. Treasury bills whose term is consistent with the expected life of the stock options.
(3)
The expected volatility is estimated based on historical and current stock price data for the Company.
(4)
Forfeitures are estimated based on historical experience.
Summary of Option Activity
A summary of stock option activity as of December 31, 2014, 2015 and 2016, and changes during the years then ended, is presented below:

  
Number of
Options/
Warrants
  
Weighted-
Average
Exercise
Price
  
Range of
Exercise Prices
  
Weighted-
Average
Remaining
 Contractual
 Term (years)
  
Aggregate
Intrinsic
 Value
(thousands)
 
Balance at December 31, 2013
  
482,833
  
$
18.48
  
$
10.75 - $21.85
   
3.9
  
$
214
 
Granted
  
210,000
  
$
14.75
  
$
12.55 - $17.80
         
Exercised
  
(10,000
)
 
$
10.75
  
$
10.75 - $10.75
         
Canceled
  
(96,000
)
 
$
18.30
  
$
16.50 - $21.85
         
                     
Balance at December 31, 2014
  
586,833
  
$
17.36
  
$
11.50 - $21.00
   
4.2
  
$
197
 
Granted
  
11,000
  
$
12.69
  
$
12.64 - $12.74
         
Exercised
  
(6,667
)
 
$
11.50
  
$
11.50 - $11.50
         
Canceled
  
(135,500
)
 
$
18.83
  
$
12.55 - $21.00
         
                     
Balance at December 31, 2015
  
455,666
  
$
16.82
  
$
12.55 - $19.75
   
4.2
  
$
-
 
Granted
  
95,000
  
$
10.11
  
$
10.04 - $11.11
         
Canceled
  
(85,000
)
 
$
14.18
  
$
10.04 - $19.75
         
                     
Balance at December 31, 2016
  
465,666
  
$
15.94
  
$
10.04 - $19.75
   
3.6
  
$
654
 
                     
Exercisable at December 31, 2014
  
322,834
  
$
18.89
  
$
11.50 - $21.00
   
2.4
  
$
23
 
                     
Exercisable at December 31, 2015
  
307,672
  
$
17.79
  
$
12.55 - $19.75
   
3.4
  
$
-
 
                     
Exercisable at December 31, 2016
  
338,415
  
$
17.34
  
$
12.55 - $19.75
   
2.9
  
$
157
 
Stock Option Plans, by Exercise Price Range
The following table summarizes information about the options outstanding at December 31, 2016:
 
   
Options Outstanding
  
Options Exercisable
 
Range of Exercise
Prices
  
Number of
Options
Outstanding at
December 31,
2016
  
Weighted
Average
 Remaining
Contractual
Life
  
Weighted
Average
Exercise Price
  
Number of
Options
Exercisable at
 December 31,
2016
  
Weighted
Average
Exercise Price
 
                 
$
8.74 — 10.93
   
67,000
   
6.0
  
$
10.04
   
-
  
$
-
 
 
10.93 — 13.11
   
60,000
   
5.0
  
$
12.45
   
37,333
  
$
12.55
 
 
15.30 — 17.48
   
141,000
   
4.0
   
16.16
   
108,999
   
16.28
 
 
17.49 — 19.66
   
121,000
   
2.6
   
18.26
   
115,417
   
18.29
 
 
19.67 — 21.85
   
76,666
   
1.3
   
19.75
   
76,666
   
19.75
 
                       
$
10.93 — 21.85
   
465,666
   
3.6
  
$
15.94
   
338,415
  
$
17.34