STOCK-BASED COMPENSATION PLANS

12 Months Ended

Dec. 31, 2013

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

STOCK-BASED COMPENSATION PLANS

4.           STOCK-BASED COMPENSATION PLANS

In accordance with the Company’s stock-based compensation plans, the Company may grant incentive stock options as well as non-qualified and other stock-related incentives to officers, employees and non-employee directors of the Company. Options vest ratably over a two to four-year period beginning on the grant date and expire ten years from the date of grant. Shares available for granting options at December 31, 2013, 2012 and 2011 were 600,000.

A summary of the activity of stock options for the years ended December 31, 2013, 2012 and 2011, is presented below (shares in thousands):

	2013					2012					2011
	Shares Under Option			Weighted Average Exercise Price		Shares Under Option			Weighted Average Exercise Price		Shares Under Option			Weighted Average Exercise Price
Outstanding at Beginning of Period		206		$	5.83		360		$	5.71		831		$	5.82
Granted		--			--		--			--		--			--
Exercised		(102	)		6.07		(154	)		5.54		(468	)		5.91
Forfeited and cancelled		--			--		--			--		(3	)		5.49
Outstanding at End of Period		104		$	5.60		206		$	5.83		360		$	5.71
Options exercisable at year end		104		$	5.60		206		$	5.83		161		$	5.98

A summary of options outstanding under the Company’s stock-based compensation plans at December 31, 2013 is presented below:

Exercise Price		Shares Under Option		Weighted Average Exercise Price of Options Outstanding		Weighted Average Remaining Life		Options Exercisable		Weighted Average Exercise Price of Shares Exercisable
$	5.49		99,572	$	5.49		4.9		99,572	$	5.49
	8.31		4,125		8.31		0.2		4,125		8.31
	Total		103,697	$	5.60		4.7		103,697	$	5.60