STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of stock option plans, changes in options outstanding

						Weighted
				Weighted		Average		Aggregate
				Average		Remaining		Intrinsic
	Number of			Exercise		Contractual		Value
	Options			Price		Term		(In Thousands)
Balance, January 1, 2014		652,179		$	21.30
Granted during 2014		9,000			18.86
Exercised during 2014		(15,943	)		12.54
Expired during 2014		(279,477	)		27.15
Forfeited during 2014		(20,570	)		13.27
Balance, December 31, 2014		345,189		$	17.38		5.34 years	$	6,813
Vested and expected to vest (1)		314,132		$	17.75		5.34 years	$	255
Exercisable at December 31, 2014		242,565		$	18.88		4.44 years	$	109

(1)

The difference between the shares which are exercisable (fully vested) and those which are expected to vest is due to anticipated forfeitures.

Schedule of weighted average assumption

	2014			2013			2012
Dividend yield		1.02	%		1.30	%		1.47	%
Expected volatility		40	%		39	%		39	%
Expected life		7 Years			7 Years			7 Years
Risk-free interest rate		2.18	%		1.14	%		1.43	%

Schedule of changes in nonvested performance-based shares

			Weighted
			Average
	Number of		Grant Date
	Shares		Fair Value
Balance, January 1, 2014	67,086	$	17.61
Granted during 2014	25,681		19.47
Vested during 2014	—		—
Forfeited during 2014	—		—
Balance, December 31, 2014	92,767	$	17.55

Schedule of changes in nonvested shares

				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Balance, January 1, 2014		186,455		$	15.11
Granted during 2014		126,014			19.44
Vested during 2014		(54,192	)		14.37
Forfeited during 2014		(5,948	)		18.85
Balance, December 31, 2014		252,328		$	17.34

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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