STOCK COMPENSATION PLANS (Tables)

3 Months Ended

Mar. 31, 2013

Weighted-average assumptions used for grants option

	2012			2011
Expected Dividend Yield		4.18	%		3.99	%
Expected Stock Price Volatility		25.13	%		24.97	%
Weighted Average Risk-Free Interest Rate		1.87	%		3.12	%
Weighted Average Expected Life of Options (in years)		9.47			8.36

Shares of Class A Non-Voting Common Stock under option

The following summary reflects changes in the shares of Class A Stock underlying options:

	Option Shares			Weighted Average Exercise Price		Weighted Average Remaining Life (Yrs.)		Aggregate Intrinsic Value (in thousands)
Plan options
Outstanding at January 1, 2013		421,500		$	18.30
Granted		---
Exercised		(18,958	)		14.76
Expired		---
Outstanding at March 31, 2013		402,542		$	18.47		4.41	$	1,612

Options exercisable at March 31, 2013		368,792		$	18.42		3.98	$	1,495

The total intrinsic value of options exercised during the three months ended March 31, 2013 was approximately $135,000.

Non-vested shares of Class A Stock under option

The following summary reflects changes in the non-vested shares of Class A Stock underlying options:

Non-vested Shares	Option Shares		Weighted Average Grant – Date Fair Value Per Option
Non-vested at January 1, 2013		33,750	$	2.92
Granted		---		---
Vested		---		---
Canceled		---		----
Non-vested at March 31, 2013		33,750	$	2.92

As of March 31, 2013, there was $10,000 of total unrecognized expense related to non-vested option shares granted under the Plan. The cost will be recognized over the remaining 0.10 years vesting period of the unvested options.