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Stock-Based Compensation
 9 Months Ended
Sep. 30, 2012
Stock-Based Compensation [Abstract]  
Stock-Based Compensation

 

3. Stock-Based Compensation

 

As of September 30, 2012, there was $33,000 of total unrecognized compensation cost related to non-vested options granted in 2011 under the plan, which will be fully amortized by December 31, 2012.

 

A summary of stock options from all plans, adjusted for stock dividends declared, is shown below.

 

                           

 

Options

 

 

Weighted Average Exercise Price

Per Share

 

Weighted Average Remaining Contractual Term

 

Aggregate Intrinsic Value (in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2012

209,914

 

 

$

28.43

 

 

 6.3

 Yrs.

 

$

113

 

Granted

-

 

 

 

-

 

 

 

-

 

 

-

 

Exercised

           (4,775)

 

 

 

20.72

 

 

.8

 Yrs.

 

 

31

 

Forfeited

(12,225)

 

 

 

29.65

 

 

5.2

 Yrs.

 

 

-

 

Outstanding at September 30, 2012

192,914

 

 

 

28.54

 

 

5.7

 Yrs.

 

 

370        

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at September 30, 2012

164,914

 

 

 

28.72

 

 

5.0

 Yrs.

 

 

293         

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

            Intrinsic value represents the amount by which the market price of the stock on the measurement date exceeded the exercise price of the option.  The stock price was $30.20 as of September 30, 2012 and $27.47 as of December 31, 2011.