STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2013

STOCK-BASED COMPENSATION [Abstract]

Summary of stock option activity

A summary of stock option activity follows:

				Weighted-Average
	Number			Exercise Price
	of Shares			Per Share
Outstanding, January 1, 2013		211,500		$	15.41
Granted		98,000		$	16.99
Exercised		(6,667	)	$	13.44
Forfeited or expired		(25,333	)	$	15.50
Outstanding, September 30, 2013		277,500		$	16.01

Information regarding options granted in current year

The following table presents information regarding stock options granted in 2013:

Black-Scholes Assumptions for Options Granted During the Nine Months Ended September 30, 2013:
Risk-free interest rate	1.19	%
Expected dividend yield	-
Expected life in years	10
Expected volatility	43.00	%

Summary of options outstanding and exercisable

The following summarizes shares subject to purchase from stock options outstanding and exercisable as of September 30, 2013:

		Outstanding					Exercisable
				Weighted-Average					Weighted-Average
Range of				Remaining	Weighted-Average				Remaining	Weighted-Average
Exercise Prices		Shares		Contractual Life	Exercise Price		Shares		Contractual Life	Exercise Price
$	10.00 - $14.00		140,000	8.4 years	$	12.01		30,002	8.5 years	$	12.68
$	14.01 - $20.00		108,000	9.7 years	$	16.80		3,334	9.0 years	$	14.97
$	20.01 - $30.00		5,000	5.3 years	$	28.30		5,000	5.3 years	$	28.30
$	30.01 - $40.00		24,500	2.6 years	$	32.87		24,500	2.6 years	$	32.87
			277,500	8.3 years	$	16.01		62,836	6.0 years	$	21.92