STOCK COMPENSATION PLANS (Tables)

6 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Unrecognized Share-Based Compensation Expense

The following table presents unrecognized share-based compensation expense as of June 30, 2015:



	Unrecognized Expense		Average Expected Recognition Period
	($ in thousands)
Stock option awards	$	897	2.8 years
Restricted stock awards and restricted stock units	13,457		2.6 years
Total	$	14,354	2.6 years

Option Activity

The following table represents stock option activity as of and for the three months ended June 30, 2015:



	Number of Shares		Weighted- Average Exercise Price per Share		Weighted- Average Remaining Contract Term	Aggregated Intrinsic Value (In thousands)
Outstanding at beginning of period	828,530		$	12.72	7.4 years	$	229
Granted	—		$	—	0.0 years	$	—
Exercised	(40,000	)	$	11.60	5.4 years	$	—
Forfeited	(8,014	)	$	15.81	6.0 years	$	—
Outstanding at end of period	780,516		$	12.75	7.5 years	$	935
Exercisable at end of period	581,016		$	12.14	7.9 years	$	935

The following table represents stock option activity as of and for the six months ended June 30, 2015:



	Number of Shares		Weighted- Average Exercise Price per Share		Weighted- Average Remaining Contract Term	Aggregated Intrinsic Value (In thousands)
Outstanding at beginning of period	879,070		$	12.67	7.3 years	$	32
Granted	—		$	—	0.0 years	$	—
Exercised	(40,000	)	$	11.60	5.4 years	$	—
Forfeited	(58,554	)	$	12.31	5.5 years	$	—
Outstanding at end of period	780,516		$	12.75	7.5 years	$	935
Exercisable at end of period	581,016		$	12.14	7.9 years	$	935

Nonvested Share

The following table represents changes in unvested stock options and related information as of and for the three and six months ended June 30, 2015:



	Three Months Ended June 30, 2015				Six Months Ended June 30, 2015
	Number of Shares		Weighted- Average Exercise Price per Share		Number of Shares		Weighted- Average Exercise Price per Share
Outstanding at beginning of period	552,672		$	12.74	552,672		$	12.74
Granted	—		$	—	—		$	—
Vested	(74,995	)	$	12.47	(74,995	)	$	12.47
Forfeited	—		$	—	—		$	—
Outstanding at end of period	477,677		$	12.78	477,677		$	12.78

Restricted Stock and Restricted Stock Units Activity

The following table represents unvested restricted stock awards and restricted stock units activity as of and for the three and six months ended June 30, 2015:



	Three Months Ended June 30, 2015				Six Months Ended June 30, 2015
	Number of Shares		Weighted- Average Price per Share		Number of Shares		Weighted- Average Price per Share
Outstanding at beginning of period	1,316,884		$	12.46	1,287,302		$	12.53
Granted	586,311		$	12.31	666,981		$	12.14
Vested	(263,810	)	$	12.63	(286,229	)	$	12.52
Forfeited	(46,455	)	$	12.30	(75,124	)	$	12.27
Outstanding at end of period	1,592,930		$	12.38	1,592,930		$	12.38

Summary of all Outstanding SARs

The following table represents a summary of all outstanding SARs (Initial SAR and Additional SARs, together the SARs):



	Initial SAR		Additional SAR I ⁽¹⁾		Additional SAR II ⁽²⁾		Additional SAR III ⁽³⁾		Additional SAR IV ⁽⁴⁾		Additional SAR V ⁽⁵⁾		Additional SAR VI ⁽⁶⁾		Additional SAR VII⁽⁷⁾
Grant Date	8/21/2012		6/21/2013		7/1/2013		7/2/2013		12/10/2013		5/21/2014		5/21/2014		11/7/2014
Number of shares	500,000		150,933		88,366		15,275		70,877		252,023		279,469		216,334
Base price per share	$	12.12	$	13.06	$	13.60	$	13.55	$	12.83	$	10.09	$	10.09	$	11.62
Grant date fair value per share	$	2.77	$	2.38	$	2.17	$	2.19	$	2.47	$	1.65	$	2.22	$	1.84


(1)	Issued due to the Company’s common stock issuance for an underwritten public offering completed on June 21, 2013.


(2)	Issued due to the Company’s common stock issuance in connection with the PBOC acquisition completed on July 1, 2013.


(3)	Issued due to the Company’s common stock issuance for the exercise of over-allotment option granted to the underwriters of the Company’s public common stock offering initially completed on June 21, 2013.


(4)	Issued due to the Company’s common stock issuance in a private placement completed on December 10, 2013.


(5)	Issued due to the Company’s common stock issuance for an underwritten public offering completed on May 21, 2014.

(6)

The Additional SAR VI originally related to 300,219 shares of common stock with a scheduled vesting of May 21, 2017, as described above. As a result of the settlements of portions of the Purchase Contacts, the Additional SAR VI accelerated in vesting with respect to 148,097 shares and 20,750 shares were forfeited as of June 30, 2015. A portion of Additional SAR VI that has accelerated in vesting has the same terms and conditions as the Initial SAR.


(7)	Issued due to the Company's common stock issuance completed on November 7, 2014.