STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2013

The following tables provide information on stock-based compensation expense for 2013, 2012 and 2011.

(Dollars in thousands)	2013		2012		2011
Stock-based compensation expense	$	78	$	209	$	338
Excess tax expense related to stock-based compensation		26		106		45

		December 31,
(Dollars in thousands)	2013		2012		2011
Unrecognized stock-based compensation expense	$	136	$	143	$	167
Weighted average period unrecognized expense is expected to be recognized		1.7 years		2.1 years		8.5 months

The following table summarizes restricted stock award activity for the Company under the 2006 Equity Plan for the two years ended December 31, 2013.

	Year Ended December 31, 2013			Year Ended December 31, 2012
		Weighted Average			Weighted Average
	Number	Grant Date		Number	Grant Date
	of Shares	Fair Value		of Shares	Fair Value
Nonvested at beginning of year	6,548	$	14.89	45,779	$	13.20
Granted	13,930		8.33	-		-
Vested	(6,548)		14.89	(39,231)		12.92
Cancelled	-		-	-		-

Nonvested at end of year	13,930	$	8.33	6,548	$	14.89

The following table summarizes stock option activity for the Company under the 2006 Equity Plan for the two years ended December 31, 2013.

	Year Ended December 31, 2013			Year Ended December 31, 2012
	Number	Weighted Average		Number	Weighted Average
	of shares	Exercise Price		of shares	Exercise Price
Outstanding at beginning of year	54,216	$	6.64	-	$	-
Granted	-		-	54,216		6.64
Exercised	-		-	-		-
Expired/Cancelled	(13,554)		6.64	-		-
Outstanding at end of year	40,662	$	6.64	54,216	$	6.64

Exercisable at end of year	-	$	-	-	$	-

The following weighted average assumptions were used as inputs to the Black-Scholes valuation model for options granted in 2012.

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