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EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2012
EMPLOYEE BENEFIT PLANS [Abstract]  
Stock incentive plan activity
The following tables shows activity for the twelve months ended December 31, 2012 for the Company's Incentive Plan:


SOSARs (1)
 
Awards
Outstanding
 
 
Weighted
Average
Exercise Price
 
Balance at January 1
 
 
85,750
 
 
$
3.35
 
Awards granted
 
 
83,500
 
 
 
3.30
 
Awards forfeited
 
 
(2,000
)
 
 
3.35
 
Balance at December 31
 
 
167,250
 
 
$
3.33
 
 
 
 
 
 
 
 
 
(1)  Stock Only Stock Appreciation Rights
 
 
 



 
Restricted Stock
 
 
Restricted Stock Units
 
 
Awards
 
 
Grant Date
 
 
Exercise
 
 
Awards
 
 
Grant Date
 
 
Exercise
 
 
Outstanding
 
 
Fair Value
 
 
Price
 
 
Outstanding
 
 
Fair Value
 
 
Price
 
 Nonvested at January 1
 
 
24,250
 
 
$
3.35
 
 
$
3.35
 
 
 
28,000
 
 
$
3.35
 
 
$
3.35
 
 Awards granted
 
 
-
 
 
 
3.30
 
 
 
3.30
 
 
 
32,750
 
 
 
3.30
 
 
 
3.30
 
 Awards vested
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 Awards forfeited
 
 
(1,625
)
 
 
3.34
 
 
 
3.34
 
 
 
(13,955
)
 
 
3.35
 
 
 
3.35
 
 Nonvested at December 31
 
 
22,625
 
 
$
3.35
 
 
$
3.35
 
 
 
46,795
 
 
$
3.32
 
 
$
3.32
 
Fair value assumptions of SOSARs
The fair value of each SOSAR grant is estimated on the grant date using the Black-Scholes option pricing model. Grants were awarded in March 2012 and 2011. Fair value of grants in 2012 and 2011 is based on the weighted-average assumptions shown in the following table.


 
2012
 
 
2011
 
 Dividend yield
 
 
0.0
%
 
 
0.0
%
 Expected life (in years)
 
 
5
 
 
 
5
 
 Expected volatility
 
 
37
%
 
 
35
%
 Risk-free interest rate
 
 
0.84
%
 
 
2.16
%
 Fair value
 
$
1.105
 
 
$
1.136
 
Summary of stock option activity
The following summarizes year to date option activity for the 2005 Plan:


Stock Options
 
Options
Outstanding
 
 
Weighted Avg.
Exercise Price
 
 Balance, January 1, 2012
 
 
381,743
 
 
$
21.19
 
 Options expired
 
 
(13,883
)
 
 
20.48
 
 Options forfeited
 
 
(9,790
)
 
 
17.42
 
 Balance, December 31, 2012
 
 
358,070
 
 
$
21.32
 
 Options exercisable at year-end
 
 
358,070
 
 
$
21.32
 
Summary of stock option activity and options outstanding
The table below provides information regarding stock options outstanding under the 2005 Plan at December 31, 2012.


 
Options Outstanding
  
Options Exercisable
 
Range of Exercise Prices
 
Number Outstanding
  
Weighted Average
Remaining Contractual Life
 
Weighted Avg. Exercise Price
  
Number Outstanding
  
Weighted Avg. Exercise Price
 
 $6.00 to $32.14
  
358,070
   
3.61
 
Years
 
$
21.32
   
358,070
  
$
21.32