STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2016

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, 2016	185,100		$	15.73
Granted	-			-
Exercised	-			-
Forfeited or expired	(3,000	)	$	34.95
Outstanding, June 30, 2016	182,100		$	15.41

Summary of options outstanding and exercisable

The following summarizes shares subject to purchase from stock options outstanding and exercisable as of June 30, 2016:

		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		90,000	5.6 years	$	11.68		73,334	5.6 years	$	11.88
$	14.01 - $20.00		83,100	7.1 years	$	17.80		60,272	7.0 years	$	17.56
$	20.01 - $30.00		3,000	2.6 years	$	28.30		3,000	2.6 years	$	28.30
$	30.01 - $40.00		6,000	1.1 years	$	32.04		6,000	1.1 years	$	32.04
			182,100	6.1 years	$	15.41		142,606	5.9 years	$	15.47

Summary of restricted stock activity

A summary of restricted stock activity for the first six months of 2016 follows:

	Number of Shares			Weighted-Average Grant-Date Fair Value
Unvested, January 1, 2016		108,073		$	22.94
Granted		51,871		$	25.33
Vested		(42,633	)	$	22.87
Forfeited or expired		(1,216	)	$	22.72
Unvested, June 30, 2016		116,095		$	24.03