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STOCK COMPENSATION PLANS | 12 Months Ended
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Dec. 31, 2015
STOCK COMPENSATION PLANS [Abstract] |
STOCK COMPENSATION PLANS | NOTE 8 STOCK COMPENSATION PLANS On December 9, 2015, the Company's stockholders approved the 2015 Equity Compensation Plan, or the 2015 Plan, which replaced the 2005 Equity Compensation Plan, or the 2005 Plan, that expired on May 24, 2015. The 2015 Plan provides that grants may be in any of the following forms: incentive stock options, nonqualified stock options, stock units, stock awards, dividend equivalents and other stock-based awards. The 2015 Plan is administered and interpreted by the Compensation Committee of the Board of Directors, or the Committee. The Committee has the authority to determine the individuals to whom grants will be made under the 2015 Plan, determine the type, size and terms of the grants, determine the time when grants will be made and the duration of any applicable exercise or restriction period (subject to the limitations of the 2015 Plan) and deal with any other matters arising under the 2015 Plan. The Committee presently consists of three directors, each of whom is a non-employee director of the Company. All of the employees of the Company and its subsidiaries are eligible for grants under the 2015 Plan. Non-employee directors of the Company are also eligible to receive grants under the 2015 Plan. The following summary reflects changes in the shares of Class A Stock under option:
|  | 2015 Shares |  |  | 2015 Weighted Average Exercise Price |  |  | 2014 Shares |  |  | 2014 Weighted Average Exercise Price |  |  | 2013 Shares |  |  | 2013 Weighted Average Exercise Price |
Plan options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at beginning of year |  |  | 376,250 |  |  | $ | 19.52 |  |  |  | 387,000 |  |  | $ | 18.96 |  |  |  | 421,500 |  |  | $ | 18.30 |
Granted |  |  | — |  |  |  | — |  |  |  | 33,750 |  |  |  | 21.86 |  |  |  | 33,750 |  |  |  | 22.66 |
Exercised |  |  | (106,250 | ) |  |  | 19.97 |  |  |  | (44,500 | ) |  |  | 16.45 |  |  |  | (68,250 | ) |  |  | 16.68 |
Expired |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Outstanding at end of year |  |  | 270,000 |  |  | $ | 19.34 |  |  |  | 376,250 |  |  | $ | 19.52 |  |  |  | 387,000 |  |  | $ | 18.96 |
Options exercisable at year end |  |  | 270,000 |  |  | $ | 19.34 |  |  |  | 342,500 |  |  | $ | 19.29 |  |  |  | 353,250 |  |  | $ | 18.61 |
The fair value per share of options granted during 2014 and 2013 were $3.95 and $4.04, respectively, as estimated using the Black-Scholes Merton option pricing model. The total intrinsic value of options exercised during 2015, 2014 and 2013 were $379,000, $247,000 and $367,000, respectively. During 2015, we received $2.1 million in cash from the exercise of options, with a $379,000 tax benefit realized for those options. The following tables summarize information about employee and director stock options outstanding at December 31, 2015:
Options Outstanding |  |  |  |  |  |
Range of Exercise Price |  |  | Shares Outstanding at December 31, 2015 |  | Weighted Average Remaining Life | Weighted Average Exercise Price |  | Aggregate Intrinsic Value |
| $ | 15.26 - $19.04 |  |  |  | 135,000 |  | 4.12 Years |  | $ | 17.83 |  |  | $ | 1,332,788 |
| $ | 19.05 - $22.66 |  |  |  | 135,000 |  | 5.56 Years |  | $ | 20.87 |  |  | $ | 923,096 |
Options Exercisable |  |  |  |  |  |  |  |  |  |  |  |  |  |
Range of Exercise Price |  |  | Shares Exercisable at December 31, 2015 |  | Weighted Average Remaining Life | Weighted Average Exercise Price |  | Aggregate Intrinsic Value |
| $ | 15.26 - $19.04 |  |  |  | 135,000 |  | 4.12 Years |  | $ | 17.83 |  |  | $ | 1,332,788 |
| $ | 19.05 - $22.66 |  |  |  | 135,000 |  | 5.56 Years |  | $ | 20.86 |  |  | $ | 923,096 |
As of December 31, 2015, there was no unrecognized expense related to non-vested option shares granted under the Plan. On December 18, 2015, 5,000 shares of stock awards were granted. The awards were fully vested and unrestricted. The awards were valued at the fair market value on the date of the award (last reported sale price on the date of award) or $27.38 per share.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51659978&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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