Note 13 - Stock Based Compensation

3 Months Ended

Mar. 31, 2015

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 three months ended March 31, 2015:

	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, 2015		119,690		$	27.72		226,932		$	31.88
Granted		113,695			42.76		57,225			41.02
Stock Options Exercised		(10,410	)		26.90		--			--
Stock Awards Vested		--			--		(79,984	)		40.31
Forfeited/Expired		--			--		(9,500	)		39.56
Balance, March 31, 2015		222,975		$	35.42		194,673		$	30.73
Exercisable, March 31, 2015		109,280		$	27.79

The following table summarizes information about stock options under the plans outstanding at March 31, 2015:

			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
$24.50	-	$24.50	15,250		0.15	$	24.50	15,250	$	24.50
26.19	-	27.67	30,600		1.13		26.21	30,600		26.21
28.42	-	28.42	32,300		2.16		28.42	32,300		28.42
30.31	-	30.31	31,130		3.16		30.31	31,130		30.31
40.57	-	40.57	48,690		9.75		40.57	--		--
44.40	-	44.40	65,005		9.98		44.40	--		--

Total stock-based compensation expense was $485,000 and $361,000 during the three months ended March 31, 2015 and 2014, respectively.  Stock-based compensation expense is recognized ratably over the requisite service period for all stock-based awards.  There was $901,000 of unrecognized stock-based compensation expense related to stock options at March 31, 2015.  There was no unrecognized stock-based compensation expense related to stock options at March 31, 2014.  

The intrinsic value of stock options outstanding and stock options exercisable at March 31, 2015 was $2,240,000 and $1,932,000.  Intrinsic value represents the difference between the Company’s closing stock price on the last trading day of the period, which was $45.47 as of March 31, 2015, 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 three months ended March 31, 2015 and March 31, 2014, was $193,000 and $188,000, respectively.