ACQUISITION

6 Months Ended

Jun. 30, 2015

ACQUISITION [Abstract]

ACQUISITION

11. ACQUISITION

Effective May 1, 2015 the Company closed the previously announced acquisition of a wealth management company. The acquisition is consistent with the Company's strategy to grow its wealth management business with a focus on high net worth clients.  The purchase price included cash, common stock and common stock warrants.  The warrants are exercisable and have a term of seven years. The Company is still in the process of evaluating the final purchase accounting allocation. Any adjustment resulting from the evaluation is not expected to be material. In accordance with FASB ASC 805-10 (Subtopic 25-15), the Company has up to one year from date of acquisition to complete this assessment.