STOCK-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2014

STOCK BASED COMPENSATION PLANS

Summary of the status of stock options as and the changes during the year

	2014
	Number of Shares Underlying Options			Weighted Average Exercise Prices
Outstanding, March 11 (Acquistion Date)		19,700		$	13.96
Granted		11,850		$	23.16
Excercised		(14,500	)	$	13.83
Outstanding and exercisable, December 31		17,050		$	20.46
Weighted-average fair value per share of stock options granted during the year	$	0.66

Schedule of assumptions used in valuation of fair value of options

Assumptions
Expected term (years)	3.0
Risk-free interest rate	0.94	%
Expected dividend yield	3.78	%
Expected volatility	9.37	%
Expected forfeiture rate	1.00	%

Summary information about stock options outstanding

The following table summarizes information about stock options outstanding at December 31, 2014:

	Options Outstanding and Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contract Life (in years)		Weighted Average Exercise Price
$11.50		1,400		2.44	$	11.50
$14.25 to $16.25		3,800		1.00	$	15.36
$23.16		11,850		4.45	$	23.16
$11.50 to $23.16		17,050		3.51	$	20.46

Summary of restricted shares and the changes during the year

	2014
	Number of Shares			Weighted Average Grant Date Fair Value Per Share
Balance, March 11 (Acquisition Date)		—
Granted		8,000		$	21.42
Vested		(666	)	$	22.54
Balance, December 31		7,334		$	21.32