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STOCK COMPENSATION PLANS (Tables)
12 Months Ended
Dec. 31, 2016
Outside Director's Stock Option Plan [Member]  
Share-based Payment Award [Line Items]  
Summary of the Status of the Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

2015

 

 

 

 

 

Weighted

 

Weighted

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

Average

 

Average

 

 

Aggregate

 

 

 

 

Average

 

 

 

 

 

Exercise

 

Remaining

 

 

Intrinsic

 

 

 

 

Exercise

 

    

Options

    

 

Price

 

Term (yrs)   

 

 

Value

 

Options

 

 

Price

Options outstanding at beginning of year

 

4,725

 

$

21.78

 

0.5

 

 

 

 

12,724

 

$

21.83

Forfeited

 

(1,575)

 

 

21.78

 

 

 

 

 

 

(3,181)

 

 

21.83

Expired

 

(3,150)

 

 

21.78

 

 

 

 

 

 

(4,818)

 

 

21.88

Options outstanding at the end of the year

 

 —

 

$

 —

 

 —

 

$

 —

 

4,725

 

$

21.78

Options exercisable at the end of the year

 

 —

 

$

 —

 

 —

 

$

 —

 

4,725

 

$

21.78

 

Employee Stock Option Plan And Appreciation Right Plan [Member]  
Share-based Payment Award [Line Items]  
Summary of the Status of the Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

2015

 

 

 

 

 

Weighted

 

Weighted

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

Average

 

Average

 

 

Aggregate

 

 

 

 

Average

 

 

 

 

 

Exercise

 

Remaining

 

 

Intrinsic

 

 

 

 

Exercise

 

 

Options

 

 

Price

 

Term (yrs)   

 

 

Value

 

Options

 

 

Price

Options outstanding at beginning of year

 

19,061

 

$

21.78

 

0.5

 

 

 

 

35,612

 

$

21.82

Forfeited

 

(3,560)

 

 

21.78

 

 

 

 

 

 

(1,749)

 

 

21.81

Expired

 

(15,501)

 

 

21.78

 

 

 

 

 

 

(14,802)

 

 

21.88

Options outstanding at the end of the year

 

 —

 

$

 —

 

 —

 

$

 —

 

19,061

 

$

21.78

Options exercisable at the end of the year

 

 —

 

$

 —

 

 —

 

$

 —

 

19,061

 

$

21.78

 

Long Term Incentive Plan [Member]  
Share-based Payment Award [Line Items]  
Summary of the Status of the Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

2015

 

 

 

 

 

Weighted

 

Weighted

 

 

(1)

 

 

 

 

Weighted

 

 

 

 

 

Average

 

Average

 

 

Aggregate

 

 

 

 

Average

 

 

 

 

 

Exercise

 

Remaining

 

 

Intrinsic

 

 

 

 

Exercise

 

 

Options

 

 

Price

 

Term (yrs)   

 

 

Value

 

Options

 

 

Price

Options outstanding at beginning of year

 

271,869

 

$

3.59

 

3.7

 

 

 

 

130,709

 

$

5.60

Granted

 

5,000

 

 

2.16

 

 

 

 

 

 

146,500

 

 

1.78

Exercised

 

(33,666)

 

 

1.54

 

 

 

 

 

 

 —

 

 

 —

Forfeited

 

(26,064)

 

 

3.11

 

 

 

 

 

 

(5,340)

 

 

3.98

Options outstanding at the end of the year

 

217,139

 

$

3.93

 

6.3

 

$

48

 

271,869

 

$

3.59

Options exercisable at the end of the year

 

117,806

 

$

5.67

 

4.7

 

$

 —

 

88,699

 

$

7.23

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average fair value of options granted during the year

 

 

 

$

1.13

 

 

 

 

 

 

 

 

$

1.14

 

 

(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, 2016. The intrinsic value varies based on the changes in the market value in the Company’s stock. Because the exercise price exceeded the total market value of the options, the aggregate intrinsic value was $0 for options exercisable at December 31, 2016.

Information Pertaining to Options Outstanding

Information pertaining to options outstanding at December 31, 2016 is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options issued and outstanding

 

Options exercisable

 

 

 

 

 

 

 

 

Weighted

 

Weighted

 

 

 

Weighted

 

Weighted

 

 

 

 

 

 

 

 

Average

 

Average

 

 

 

Average

 

Average

Range of

 

Number

 

Exercise

 

Remaining

 

Number

 

Exercise

 

Remaining

exercise prices

 

Outstanding

 

Price

 

Term (yrs)   

 

Exercisable

 

Price

 

Term (yrs)   

$

1.00

-

$

3.99

  

159,000

  

$

1.86

  

8.1

 

59,667

  

$

1.90

  

7.9

$

4.00

-

$

14.99

 

39,300

 

 

4.50

 

1.8

 

39,300

 

 

4.50

 

1.8

$

15.00

-

$

21.00

 

18,839

 

 

20.08

 

0.6

 

18,839

 

 

20.08

 

0.6

 

 

 

 

 

 

217,139

 

$

3.93

 

6.3

 

117,806

 

$

5.67

 

4.7

 

Schedule of fair value of options granted

 

 

 

 

 

 

 

 

 

2016

 

 

2015

 

Weighted average risk-free interest rate

 

1.14

%

 

1.57

%

Weighted average volatility  

 

61.74

%

 

77.01

%

Expected dividend yield                              

 

 —

%

 

 —

%

Weighted average expected life

 

5.0 years

 

 

5.0 years

 

 

Employee Stock Option | Long Term Incentive Plan [Member]  
Share-based Payment Award [Line Items]  
Detail for Non-vested Shares Under the Plans

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

Average

 

 

 

 

 

Exercise

 

 

Options

 

 

Price

Non-vested options December 31, 2015

 

183,170

 

$

1.94

Granted

 

5,000

 

 

2.16

Forfeited

 

(21,334)

 

 

1.86

Vested

 

(67,503)

 

 

1.78

Non-vested options December 31, 2016

 

99,333

 

$

1.86

 

Restricted stock | Long Term Incentive Plan [Member]  
Share-based Payment Award [Line Items]  
Detail for Non-vested Shares Under the Plans

The following table details the restricted stock awards as of December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

Average

 

 

 

 

 

Exercise

 

 

Shares

 

 

Price

Non-vested restricted stock at December 31, 2015

 

25,000

 

$

1.80

Granted

 

 —

 

 

 —

Forfeited

 

 —

 

 

 —

Vested

 

 —

 

 

 —

Non-vested restricted stock at December 31, 2016

 

25,000

 

$

1.80