Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2012

Stock Based Compensation [Abstract]

Fair value and assumptions used to value stock options as of the grant date

The following table details the fair value and assumptions used to value stock options as of the grant date that were granted during the nine months ended September 30, 2011:

	2011
Fair value, calculated	$	1.49
Exercise Price	$	2.14
Risk-free interest rate		3.58	%
Expected stock price volatility		57.30	%
Expected dividend yield		0
Expected Life		10 years

Status of the Corporation's stock option plans

A summary of the status of the Corporation’s stock option plans as of September 30, 2012 and December 31, 2011, and changes during the periods ending on those dates is presented below:

	Nine Months ended September 30, 2012					Year ended December 31, 2011
	Shares			Weighted- average exercise price		Shares			Weighted- average exercise price
Outstanding at beginning of period		587,342		$	4.68		463,642		$	5.84
Granted		0			0		161,538			2.14
Exercised		0			0		0			0
Forfeited		(5,454	)		10.63		(29,338	)		7.03
Expired		0			0		(8,500	)		11.93
Outstanding at end of period		581,888		$	4.62		587,342		$	4.68
Options exercisable at period end		395,233		$	5.70		317,467		$	6.58
Weighted-average fair value of options granted during the period				$	N/A				$	1.49

Stock Options Outstanding

The following information applies to options outstanding at September 30, 2012:

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted-Average Remaining Contractual Life (Years)		Weighted- Average Exercise Price		Number Exercisable		Weighted- Average Exercise Price
$1.90 - $2.51		470,687		7.6	$	2.39		284,032	$	2.42
$8.92		18,877		5.3		8.92		18,877		8.92
$11.36 - $14.16		43,473		3.6		13.69		43,473		13.69
$16.13 - $17.17		48,851		1.5		16.44		48,851		16.44
		581,888		6.7	$	4.62		395,233	$	5.70

Stock summary of restricted award activity

A summary of restricted stock award activity for the period is presented below:

	Non-vested Number of Shares			Weighted Average Grant Date Fair Value
Non-vested balance at January 1, 2011		37,500		$	2.50
Vested		(12,500	)		2.50
Non-vested balance at December 31, 2011		25,000		$	2.50
Granted		262,492			2.38
Vested		(64,979	)		2.40
Forfeit		(2,524	)		2.38
Non-vested balance at September 30, 2012		219,989		$	2.39