Note 14 - Stock Based Compensation

6 Months Ended

Jun. 30, 2015

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

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

NOTE 14: 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, 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		62,225			41.19
Stock Options Exercised		(52,929	)		22.69		-			-
Stock Options from Acquisitions		65,850			20.43		-			-
Stock Awards Vested		-			-		(79,607	)		34.37
Forfeited/Expired		-			-		(10,730	)		39.56
Balance, June 30, 2015		246,306		$	33.64		198,820		$	33.38
Exercisable, June 30, 2015		117,661		$	26.25

The following table summarizes information about stock options under the plans outstanding at June 30, 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
$15.55	-	$21.29		37,741		4.86	$	19.52		24,291	$	19.01
21.51	-	26.19		31,200		1.28		25.70		31,200		25.70
28.42	-	28.42		31,500		1.92		28.42		31,500		28.42
30.31	-	30.31		30,670		2.91		30.31		30,670		30.31
40.57	-	40.57		48,690		9.50		40.57		-		-
40.72	-	40.72		1,500		9.38		40.72		-		-
44.40	-	44.40		65,005		9.73		44.40		-		-
$15.55	-	$44.40		246,306		6.02	$	33.64		117,661	$	26.25

Total stock-based compensation expense was $1,077,000 and $655,000 during the six months ended June 30, 2015 and 2014, respectively.  Stock-based compensation expense is recognized ratably over the requisite service period for all stock-based awards.  There was $728,000 of unrecognized stock-based compensation expense related to stock options at June 30, 2015. There was no unrecognized stock-based compensation expense related to stock options at June 30, 2014.  

The intrinsic value of stock options outstanding and stock options exercisable at June 30, 2015 was $3,212,000 and $2,404,000.  Intrinsic value represents the difference between the Company’s closing stock price on the last trading day of the period, which was $46.68 as of June 30, 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 six months ended June 30, 2015 and June 30, 2014 was $1,270,000 and $471,000, respectively.