EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Analysis of Basic and Diluted Earnings Per Share

The following is an analysis of basic and diluted EPS, reflecting the application of the two-class method, as described below: 

	Three Months Ended   March 31,
	2015			2014
Net income	$	5,611		$	5,715
Dividends and undistributed earnings allocated to participating securities(1)	(17		)	(17		)
Net income available to common shareholders	$	5,594		$	5,698
Weighted-average common shares outstanding for basic EPS	7,431,065			7,528,751
Dilutive effect of stock-based awards(2)	22,810			23,034
Weighted-average common and potential common shares for diluted EPS	7,453,875			7,551,785
Earnings per common share:
Basic EPS	$	0.75		$	0.76
Diluted EPS	$	0.75		$	0.75
Awards excluded from the calculation of diluted EPS(3):
Stock options	15,250			15,250

(1) Represents dividends paid and undistributed earnings allocated to nonvested stock-based awards that contain non-forfeitable rights to dividends.

(2) Represents the effect of the assumed exercise of stock options, vesting of restricted shares, vesting of restricted stock units, and vesting of LTIP awards that have met the performance criteria, as applicable, utilizing the treasury stock method.

(3) Represents stock-based awards not included in the computation of potential common shares for purposes of calculating diluted EPS as the exercise prices were greater than the average market price of the Company's common stock.