SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2014

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

9. SUBSEQUENT EVENTS

The Corporation announced on October 23, 2014 that it filed a prospectus supplement with the Securities and Exchange Commission (the “SEC”) and entered into a Sales Agency Agreement with Sandler O' Neill & Partners, L.P., as sales agent, under which the Company may sell up to $50,000,000 of its no par value common stock from time to time pursuant to an “at-the-market” equity offering.

Sales of the Company's common shares under the at-the-market offering would be made by means of ordinary brokers' transactions on the Nasdaq Global Select Market at market prices or as otherwise agreed with the sales agent. The Company intends to use the net proceeds from any sales of the common shares for general corporate purposes, which may include, among other things, funding the Company's growth and expansion plans, working capital and pursuing strategic opportunities which may be presented from time to time.