Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2013

The following tables provide information on stock-based compensation expense for the three and six months ended June 30, 2013 and 2012.

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2013		2012		2013		2012
Stock-based compensation expense	$	18	$	44	$	40	$	141
Excess tax expense related to stock-based compensation		-		23		26		106

	June 30,
(Dollars in thousands)	2013		2012
Unrecognized stock-based compensation expense	$	130	$	211
Weighted average period unrecognized expense is expected to be recognized		1.9 years		2.3 years

The following table summarizes restricted stock award activity for the Company under the 2006 Equity Plan for the six months ended June 30, 2013.

	Number		Weighted Average Grant
	of Shares		Date Fair Value
Nonvested at beginning of period		6,548	$	14.89
Granted		3,930		6.81
Vested		(6,548)		14.89
Cancelled		-		-
Nonvested at end of period		3,930	$	6.81

The following table summarizes stock option activity for the Company under the 2006 Equity Plan for the six months ended June 30, 2013.

			Weighted		Weighted Average
	Number		Average		Grant Date
	of Shares		Exercise Price		Fair Value
Outstanding at beginning of period		54,216	$	6.64	$	3.44
Granted		-		-		-
Exercised		-		-		-
Expired/Cancelled		-		-		-
Outstanding at end of period		54,216	$	6.64	$	3.44

Exercisable at end of period		-	$	-	$	-

The following weighted average assumptions were used as inputs to the Black-Scholes valuation model for options outstanding at June 30, 2013.

Dividend yield	0.60	%
Expected volatility	58.65	%
Risk-free interest rate	1.69	%
Expected contract life (in years)	5.83