Note 13 - Stock Based Compensation

6 Months Ended

Jun. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 13: STOCK BASED COMPENSATION

The Company’s Board of Directors has adopted various stock compensation plans.  The plans provide for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, and bonus stock awards.  Pursuant to the plans, shares are reserved for future issuance by the Company upon the exercise of stock options or awarding of bonus shares granted to directors, officers and other key employees.

The table below summarizes the transactions under the Company's active stock compensation plans for the six months ended June 30, 2014:

	Stock Options  Outstanding					Non-Vested Stock  Awards Outstanding
	Number  of  Shares			Weighted  Average  Exercise  Price		Number  of  Shares			Weighted  Average  Grant-Date  Fair-Value
Balance, January 1, 2014		184,410		$	27.04		145,635		$	26.00
Granted		--			--		71,840			35.62
Stock Options Exercised		(33,360	)		25.25		--			--
Stock Awards Vested		--			--		(48,225	)		30.47
Forfeited/Expired		--			--		(1,558	)		25.64
Balance, June 30, 2014		151,050		$	27.43		167,692		$	28.68
Exercisable, June 30, 2014		151,050		$	27.43

The following table summarizes information about stock options under the plans outstanding at June 30, 2014:

			Options Outstanding						Options Exercisable
Range of  Exercise Prices			Number  of Shares		Weighted  Average  Remaining  Contractual  Life (Years)		Weighted  Average  Exercise  Price		Number  of Shares		Weighted  Average  Exercise  Price
$23.78	-	$23.78		10,800		0.07	$	23.78		10,800	$	23.78
24.50	-	24.50		22,800		0.90		24.50		22,800		24.50
26.19	-	27.67		38,700		1.88		26.21		38,700		26.21
28.42	-	28.42		38,500		2.92		28.42		38,500		28.42
30.31	-	30.31		40,250		3.91		30.31		40,250		30.31

Total stock-based compensation expense was $655,000 and $714,000 during the six months ended June 30, 2014 and 2013, respectively.  Stock-based compensation expense is recognized ratably over the requisite service period for all stock-based awards.  There was no unrecognized stock-based compensation expense related to stock options at June 30, 2014. Unrecognized stock-based compensation expense related to non-vested stock awards was $4.1 million at June 30, 2014.  At such date, the weighted-average period over which this unrecognized expense is expected to be recognized was 2.60 years.

The intrinsic value of stock options outstanding and stock options exercisable at June 30, 2014 was $1.8 million. Intrinsic value represents the difference between the Company’s closing stock price on the last trading day of the period, which was $39.39 as of June 30, 2014, and the exercise price multiplied by the number of options outstanding and exercisable at a price below that closing price. The total intrinsic value of stock options exercised during the six months ended June 30, 2014 and June 30, 2013, was $471,000 and $9,000, respectively.