Stock-Based Compensation

12 Months Ended

Dec. 31, 2011

Stock-Based Compensation [Abstract]

Stock-Based Compensation

15.  Stock-Based Compensation

Stock Options

A summary of the status of the stock options is presented below:

	Stock Options			Weighted-average Exercise Price
Outstanding at January 1, 2011		146,125		$	14.45
Granted		–			–
Exercised		(28,750	)		9.00
Forfeited		(10,000	)		16.26
Outstanding at December 31, 2011		107,375		$	15.75
Options vested and exercisable at December 31, 2011		107,375
Fair value of options granted during 2011		–
Number of authorized stock-based awards available for grant		451,841

Options outstanding and exercisable at December 31, 2011 are as follows:

Exercise Price	Number		Remaining Contractual Life
$13.30		31,875		1.0 years
17.54		37,500		2.0 years
16.04		38,000		3.0 years
		107,375

The aggregate intrinsic value of all options outstanding and exercisable at December 31, 2011 and 2010 was $79 and $217, respectively.

Additional information related to the stock option plan follows:

	2011		2010	2009
Intrinsic value of options exercised	$	151	$42	$	363
Cash received from option exercises		259	69		671

As of December 31, 2011, there was no unrecognized compensation cost related to nonvested stock options granted under the stock option plan.

Restricted Stock Awards

A summary of changes in nonvested restricted stock awards follows:

	Shares			Weighted-average Grant Date Fair Value
Nonvested at January 1, 2011		31,398			$15.10
Granted		17,900			14.88
Vested		(12,197	)		14.87
Forfeited		(1,488	)		14.87
Nonvested at December 31, 2011		35,613			$15.08

As of December 31, 2011 and 2010, there was $394 and $363, respectively, of total unrecognized compensation cost related to nonvested shares granted under the restricted stock award plan. The fair value of shares vesting during 2011, 2010, and 2009 was $173, $210 and $101, respectively. Compensation expense for restricted stock awards was $213 in 2011, $205 in 2010, and $122 in 2009.