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Stock Options
 6 Months Ended
Jun. 30, 2011
Stock Options [Abstract]  
Stock Options
(8) Stock Options
   
Options to buy stock may be granted to directors, officers and employees under the Corporation’s Stock Option and Stock Appreciation Rights Plan, which provided for issue of up to 225,000 options. The exercise price of stock options is determined based on the market price of the Corporation’s common shares at the date of grant. The maximum option term is ten years, and options normally vest after three years.
   
The Corporation did not grant any stock options during the first six months of 2011 or 2010, nor did any stock options become vested during the first six months of 2011 or 2010. The Corporation’s Stock Option and Stock Appreciation Rights Plan expired in 2010, and no further stock options or other awards may be granted by the Corporation under such plan.
A summary of the activity in the plan is as follows:
                                 
    Six months ended     Six months ended  
    June 30, 2011     June 30, 2010  
    Total options     Total options  
    outstanding     outstanding  
            Weighted             Weighted  
            Average             Average  
            Price             Price  
    Shares     Per Share     Shares     Per Share  
 
                               
Outstanding at beginning of year
    29,500     $ 25.42       29,500     $ 25.42  
Granted
    —       —       —       —  
Exercised
    —       —       —       —  
Forfeited
    —       —       —       —  
 
                       
Options outstanding, end of period
    29,500     $ 25.42       29,500     $ 25.42  
 
                       
 
                               
Options exercisable, end of period
    29,500     $ 25.42       29,500     $ 25.42  
 
                       
The following table details stock options outstanding:
                         
    Outstanding Options  
            Weighted        
            Average     Weighted  
            Remaining     Average  
            Contractual     Exercise  
Exercise price   Number     Life     Price  
$20.50
    19,500     1 yr. 0 mos.     $ 20.50  
$35.00
    10,000     1 yrs. 9.5 mos.       35.00  
 
                   
Outstanding at quarter-end
    29,500     1 yr. 3 mos.     $ 25.42  
 
                   
The intrinsic value for stock options is calculated based on the exercise price of the underlying awards and the market price of our common shares as of the reporting date. As of June 30, 2011 and December 31, 2010, the aggregate intrinsic value of outstanding stock options was $0.