STOCK COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2014

Outside Director S Stock Option Plan [Member]

Share-based Payment Award [Line Items]


	2014						2013
			Weighted	Weighted		(1)			Weighted
			Average	Average		Average			Average
			Exercise	Remaining		Intrinsic			Exercise
	Options		Price	Term (yrs)		Value	Options		Price
Options outstanding at beginning of year	25,670	$	22.00	1.5			58,306	$	21.15
Forfeited	(4,756)		21.81				(24,286)		21.24
Expired	(8,190)		22.38				(8,350)		18.27
Options outstanding at the end of the year	12,724	$	21.83	0.9	$	—	25,670	$	22.00
Options exercisable at the end of the year	12,724	$	21.83	0.9	$	—	25,670	$	22.00

(1) The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price of the option) that would have been received by the option holders had they exercised their options on December 31, 2014. The intrinsic value varies based on the changes in the market value in the Company’s stock. Because the exercise price exceeded the market value of the options, the average intrinsic value was $0 at December 31, 2014.

Information Pertaining to Options Outstanding

Information pertaining to options outstanding at December 31, 2014 is as follows:


					Options outstanding and exercisable
						Weighted		Weighted
						Average		Average
Range of					Number	Exercise		Remaining
exercise prices					Outstanding	Price		Term (yrs)
$	21.00	-	$	23.00	12,724	$	21.83	0.9
					12,724	$	21.83	0.9

Employee Stock Option Plan And Appreciation Right Plan [Member]

Share-based Payment Award [Line Items]

Summary of the Status of the Plan


	2014						2013
			Weighted	Weighted		(1)			Weighted
			Average	Average		Average			Average
			Exercise	Remaining		Intrinsic			Exercise
	Options		Price	Term (yrs)		Value	Options		Price
Options outstanding at beginning of year	82,780	$	22.06	1.1			217,561	$	21.50
Forfeited	(13,309)		21.89				(119,137)		21.53
Expired	(33,859)		22.38				(15,644)		18.27
Options outstanding at the end of the year	35,612	$	21.82	1.0	$	—	82,780	$	22.06
Options exercisable at the end of the year	35,612	$	21.82	1.0	$	—	82,780	$	22.06

Information Pertaining to Options Outstanding

Information pertaining to options outstanding at December 31, 2014 is as follows:


					Options outstanding and exercisable
						Weighted		Weighted
						Average		Average
Range of					Number	Exercise		Remaining
exercise prices					Outstanding	Price		Term (yrs)
$	21.00	-	$	23.00	35,612	$	21.82	1.0
					35,612	$	21.82	1.0

Long Term Incentive Plan [Member]

Share-based Payment Award [Line Items]

Summary of the Status of the Plan


	2014						2013
			Weighted	Weighted		(1)			Weighted
			Average	Average		Average			Average
			Exercise	Remaining		Intrinsic			Exercise
	Options		Price	Term (yrs)		Value	Options		Price
Options outstanding at beginning of year	89,386	$	7.95	4.9			86,226	$	9.22
Granted	52,500		2.05				15,000		1.36
Forfeited	(11,177)		7.81				(11,840)		8.83
Options outstanding at the end of the year	130,709	$	5.60	6.4	$	—	89,386	$	7.95
Options exercisable at the end of the year	68,209	$	8.94	3.7	$	—	74,386	$	9.28

Weighted-average fair value of options granted during the year		$	1.39					$	0.98

(1)

The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price of the option) that would have been received by the option holders had they exercised their options on December 31, 2014. The intrinsic value varies based on the changes in the market value in the Company’s stock. Because the exercise price exceeded the market value of the options, the average intrinsic value was $0 at December 31, 2014.

Information Pertaining to Options Outstanding

Information pertaining to options outstanding at December 31, 2014 is as follows:


					Options issued and outstanding
						Weighted		Weighted
						Average		Average
Range of					Number	Exercise		Remaining
exercise prices					Outstanding	Price		Term (yrs)
$	1.00	-	$	4.00	67,500	$	1.90	9.3
$	4.01	-	$	10.00	42,750		4.50	3.8
$	10.01	-	$	23.00	20,459		20.08	2.6
					130,709	$	5.60	6.4

Detail for Non-vested Shares Under the Plans


			Weighted
			Average
			Exercise
	Options		Price
Non-vested options December 31, 2013	15,000	$	1.36
Granted	52,500		2.05
Vested	(5,000)		1.36
Non-vested options December 31, 2014	62,500	$	1.94

Schedule of fair value of options granted


	2014		2013
Weighted average risk-free interest rate	2.26	%	1.63	%
Weighted average volatility	85.29	%	94.00	%
Expected dividend yield	—	%	—	%
Weighted average expected life	5.0 years		5.0 years

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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