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STOCK BASED COMPENSATION PLAN (Tables)

6 Months Ended

Jun. 30, 2012

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block]

The weighted-average assumptions for options granted during the three month period ended June 30, 2012 and the resulting estimated weighted average fair value per share is presented below. No other options have been granted during 2012.

		June 30,
		2012
Assumptions:
Risk-free interest rate			1.82	%
Expected dividend yield			-	%
Expected life (years)			10
Expected common stock market price volatility			53	%
Estimated fair value per share		$	1.95

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

A summary of option activity under the 2006 Plan for the six month period ended June 30, 2012 is presented below:

										Weighted
						Weighted				Average
		Number				Average				Remaining				Aggregate
		of				Exercise				Contractual				Intrinsic
		Options				Price				Term				Value
														(Dollars In Thousands)

Outstanding, beginning of period			363,240			$	9.62
Granted during period			35,000				3.08
Forfeited during period			(6,000	)			1.95
Exercised during period			-				-
Outstanding, end of period			392,240			$	9.15				7.3			$	83

Eligible for exercise at period end			143,416			$	17.81				4.6			$	-

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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