STOCK-BASED COMPENSATION PLAN (Tables)

12 Months Ended

Dec. 31, 2011

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 December 31, 2011 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. 2010	52,508	$	39.020	29.0	%	1.65	%
	Jan. 2011	40,399	$	50.940	27.5	%	1.01	%
Directors -	Jan. 2010	13,360	$	37.825	—		—
	Jan. 2011	8,554	$	52.940	—		—

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

The following table summarizes the total stock-based compensation cost for the years ended -December 31, (in thousands):

	2011			2010			2009
Officers & Key Employees	$	1,852		$	1,628		$	1,322
Directors	658			394			330
Total Cost	2,510			2,022			1,652
Capitalized	(218		)	(202		)	(171		)
Net Expense	$	2,292		$	1,820		$	1,481

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 2011, excluding accrued dividend equivalents:

	Officers & Other Key Employees		Directors		Weighted Average Fair Value
Nonvested Shares Outstanding, January 1, 2011	90,688		25,390		$	39.049
Granted	40,711		12,220		$	51.407
Vested*	(37,748	)	(14,474	)	$	40.041
Cancelled/Forfeited	(744	)	(1,222	)	$	49.707
Nonvested Shares Outstanding, December 31, 2011	92,907		21,914		$	44.112

*Actual shares expected to be awarded to officers and other key employees during the first quarter of 2012, including dividend equivalents and adjustments for performance measures, total 33,322 shares.