Stock Option Plans

9 Months Ended

Oct. 31, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 9. Stock Option Plans

The Company has stock-based compensation plans under which stock options have been granted to directors, officers and key employees at the market price on the date of the grant. 0 options have been granted since fiscal year 2004.

The total intrinsic value of options exercised during the nine months ended October 31, 2013 and 2012 was approximately $0.5 million and $1.8 million, respectively, resulting in tax deductions of approximately $0.2 million and $0.3 million, respectively. The following table summarizes options granted, exercised and canceled or expired during the nine months ended October 31, 2013:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at January 31, 2013		168,755		$	12.46
Exercised		(62,915	)	$	12.63
Outstanding and exercisable at October 31, 2013		105,840		$	12.37		0.6	$	1,744

During the first nine months of fiscal year 2012, certain officers and directors of the Company tendered 32,935 shares of the Company’s common stock as payment of the exercise price of stock options exercised pursuant to the Company’s Stock-for-Stock and Cashless Option Exercise Rules and Procedures, adopted on June 4, 2001. The purchase price was $32.53 per share. At October 31, 2013, there was 0 unrecognized compensation cost related to nonvested stock options.