STOCK-BASED COMPENSATION PLAN (Tables)

6 Months Ended

Jun. 30, 2013

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

Summary of the nonvested restricted stock awards outstanding and the assumptions used to estimate the fair value of the awards

The following table summarizes the nonvested restricted stock awards outstanding at June 30, 2013 and the assumptions used to estimate the fair value of the awards:

	Grant Date	Shares Outstanding	Fair Value Per Share		Expected Volatility		Risk-Free Interest Rate
Officers & Key Employees -	Jan. 2011 - TSR	40,069	$	50.940	27.5	%	1.01	%
	Jan. 2012 - TSR	20,090	$	51.230	22.5	%	0.43	%
	Jan. 2012 - EPS	20,090	$	56.930	N/A		N/A
	Jan. 2013 - TSR	27,763	$	44.380	21.1	%	0.40	%
	Jan. 2013 - EPS	27,763	$	51.180	N/A		N/A
Directors -	Jan. 2011	7,332	$	52.940	—		—
	Jan. 2013	12,285	$	51.740	—		—

Summary of the total stock-based compensation cost for the period

The following table summarizes the total stock-based compensation cost for the three and six months ended June 30, 2013 and 2012 (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Officers & Key Employees	$	566		$	524		$	1,139		$	1,048
Directors	191			228			382			354
Total Cost	757			752			1,521			1,402
Capitalized	(63		)	(58		)	(126		)	(115		)
Net Expense	$	694		$	694		$	1,395		$	1,287

Summary of information regarding restricted stock award activity during the period excluding accrued dividend equivalents

The following table summarizes information regarding restricted stock award activity during the six months ended June 30, 2013, excluding accrued dividend equivalents:

	Officers &Other Key Employees		Directors		Weighted Average Fair Value
Nonvested Shares Outstanding, January 1, 2013	81,005		27,688		$	51.292
Granted	56,464		12,285		$	48.488
Cancelled/Forfeited	(1,694	)	—		$	50.302
Vested	—		(20,356	)	$	45.809
Nonvested Shares Outstanding, June 30, 2013	135,775		19,617		$	50.780