EMPLOYEE STOCK PLANS (Tables)

12 Months Ended

Dec. 31, 2013

EMPLOYEE STOCK PLANS [Abstract]

Stock Option Activity

The following table summarizes activity relating to stock options:

	Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at December 31, 2010		53,918		$	12.86
Exercised		(10,240	)		6.60
Forfeited		(8,578	)		15.39
Outstanding at December 31, 2011		35,100		$	14.07
Granted		294,803			12.97
Exercised		(14,117	)		7.15
Forfeited		(7,941	)		12.97
Outstanding at December 31, 2012		307,845		$	13.36
Granted		131,280			15.82
Exercised		(6,155	)		11.10
Forfeited		(328	)		20.88
Outstanding at December 31, 2013		432,642		$	14.13		8.51	$	1,612,000
Exercisable at December 31, 2011		35,100		$	14.07
Exercisable at December 31, 2012		20,983			18.72
Exercisable at December 31, 2013		70,457			14.81		6.48	$	215,000

Summary of changes in unvested options

A summary of changes in unvested options for the period ended December 31, 2013 is as follows:

	Number of Options			Weighted Average Grant Date Fair Value
Unvested options outstanding, beginning of year		286,862		$	4.41
Granted		131,280			5.59
Vested		(55,957	)		4.41
Forfeited		-			-
Unvested options outstanding, end of year		362,185		$	4.84

Assumptions were made in estimating the fair value of the options

The following weighted average assumptions were made in estimating the fair value of the options granted in 2013 and 2012:

	2013			2012
Risk free rate of interest		1.3	%		0.7	%
Expected volatility		47.4	%		46.1	%
Dividend yield		2.1	%		2.0	%
Average expected life (in years)		5			5
Weighted-average grant-date fair value	$	5.59		$	4.41

Non-vested Restricted Stock Awards Activity

The following table summarizes activity relating to non-vested restricted stock awards:

	2013
Balance at beginning of year		15,313
Granted		-
Forfeited		(883	)
Vested		14,430
Balance at end of year		-