Note 5 - Benefit Plans

3 Months Ended

Mar. 31, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 5:  Benefit Plans

The Company has stock-based employee compensation plans, which are described in the Company’s December 31, 2012 Annual Report on Form 10-K.

The table below summarizes transactions under the Company’s stock option plans for three months ended March 31, 2013:

	Number of shares
	Incentive Stock Option		Non-Incentive Stock Option			Weighted Average Exercise Price
Balance outstanding as of January 1, 2013		174,500		167,000		$	16.38
Granted		-		-			-
Exercised		-		-			-
Forfeited		-		(2,000	)		15.31
Balance outstanding as of March 31, 2013		174,500		165,000			16.38
Options exercisable as of March 31, 2013		150,600		140,500			18.21

Stock-based compensation expense, consisting of stock options and restricted stock awards, recognized for the three months ended March 31, 2013 and 2012 was $35,782 and $32,342, respectively.  As of March 31, 2013, there was $70,632 of unrecognized compensation expense related to nonvested stock options and $97,393 of unrecognized compensation expense related to nonvested restricted stock awards, which will be recognized over the remaining vesting period.

In January 2013, the Company granted restricted stock to directors pursuant to the 2010 Equity Plan that was fully vested and thus, expensed in full during the three months ended March 31, 2013.  The amount expensed was $116,032 for the quarter which represents 16,576 shares of common stock at a market price of $7.00 at the date of grant.