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Stock Compensation
6 Months Ended
Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Compensation
(10) Stock Compensation

 

The Company has one equity compensation plan for its employees pursuant to which options were granted.

 

The following table summarizes the Company’s stock option activity:

 

                Weighted        
          Weighted     Average     Aggregate  
    Number     average     Contractual     Intrinsic  
    of     Exercise     Term     Value  
    Shares     Price     (in years)     ($000)  
Outstanding, beginning of period     20,909     $ 14.20                  
Granted     0       0.00                  
Exercised     0       0.00                  
Forfeited or expired     0       0.00                  
Outstanding, June 30, 2018     20,909     $ 14.20       0.23     $ 160,975  
Exercisable, June 30, 2018     20,909     $ 14.20       0.23     $ 160,975  

 

Options have been adjusted to reflect a 4% stock dividend paid on July 1, 2018.

  
Total stock-based compensation expense was $0 for the three and six months ended June 30, 2018 compared to $1,000 and $2,000 for the three and six months ended June 30, 2017, respectively. As of December 31, 2017, there was no remaining unrecognized compensation expense related to non-vested stock awards. The Plan expired on February 28, 2010, except as to outstanding options under the Plan, and no further options may be granted pursuant to the Plan.