EQUITY COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2015

Equity Compensation

Schedule of compensation expense and tax benefits for stock-based awards and programs

We recognized the following amounts in compensation expense and tax benefits for all of our stock-based awards and programs for the applicable periods ended March 31 (in thousands):

	Three Months Ended				Twelve Months Ended
	2015		2014		2015		2014
Compensation expense	$	742	$	1,349	$	3,081	$	2,636
Tax benefit recognized	271		502		1,127		955

Schedule of time vested restricted stock activity

	2015				2014
			Weighted				Weighted
	Number of		Average Fair		Number of		Average Fair
	shares		Market Value		shares		Market Value
Outstanding at January 1,	41,000		$	21.89	24,900		$	22.68
Granted	19,000		30.40		22,600		22.40
Vested	(1,654	)	21.92		710		24.29
Distributed					(3,300	)	22.98
Forfeited	(2,746	)	25.91		(2,490	)	—
Vested but not distributed	1,654		21.92		(710	)	—
Outstanding at end of period	57,254		$	24.81	41,710		$	21.89

Schedule of non-vested performance-based restricted stock awards (based on target number) and changes during the reporting period

	2015				2014
	Number of shares		Weighted Average Grant Date Price		Number of shares		Weighted Average Grant Date Price
Outstanding at January 1,	63,300		$	21.74	47,200		$	21.39
Granted	21,800		$	30.40	27,000		$	22.40
Awarded	(13,653	)	$	30.55	—		—
Awarded in excess of target	3,653		$	30.55	—		—
Not awarded	0		$	0	(10,900	)	$	21.84
Granted, nonvested at March 31,	75,100		$	24.36	63,300		$	21.74

Schedule of stock options activity

	2014
		Weighted Average
	Options	Exercise Price
Outstanding at January 1,	112,500	$	23.27
Granted	—	—
Exercised	48,300	$	23.70
Outstanding at March 31,	64,200	$	23.81
Exercisable at March 31,	64,200	$	23.81