STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2015

STOCK-BASED COMPENSATION [Abstract]

Summary of stock option activity

A summary of stock option activity follows:

	Number of Shares			Weighted-Average Exercise Price Per Share
Outstanding, January 1, 2015		251,100		$	16.33
Granted		-			-
Exercised		(1,000	)	$	18.18
Forfeited or expired		(10,000	)	$	22.84
Outstanding, March 31, 2015		240,100		$	16.06

Summary of options outstanding and exercisable

The following summarizes shares subject to purchase from stock options outstanding and exercisable as of March 31, 2015:

		Outstanding					Exercisable
Range of Exercise Prices		Shares		Weighted-Average  Remaining  Contractual Life	Weighted-Average Exercise Price		Shares		Weighted-Average  Remaining  Contractual Life	Weighted-Average Exercise Price
$	10.00 - $14.00		120,000	6.9 years	$	11.97		83,334	6.9 years	$	12.45
$	14.01 - $20.00		98,100	8.3 years	$	17.47		42,438	8.2 years	$	16.73
$	20.01 - $30.00		5,000	3.8 years	$	28.30		5,000	3.8 years	$	28.30
$	30.01 - $40.00		17,000	1.8 years	$	33.12		17,000	1.8 years	$	33.12
			240,100	7.0 years	$	16.06		147,772	6.6 years	$	16.59

Summary of restricted stock activity

A summary of restricted stock activity follows:

	Number of Shares			Weighted-Average Grant-Date Fair Value
Nonvested, January 1, 2015		72,350		$	22.51
Granted		51,562		$	22.76
Vested		-			-
Forfeited or expired		(4,975	)	$	22.52
Nonvested, March 31, 2015		118,937		$	22.62