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Stock-Based Compensation | 12 Months Ended
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Dec. 31, 2011
Stock-Based Compensation [Abstract] |
Stock-Based Compensation | NOTE 11. Stock-Based Compensation The exercise price of stock options granted under this plan, both incentive and non-qualified, cannot be less than the fair market value of the common stock on the date that the option is granted. The maximum term for an option granted under this plan is ten years and options granted may be subject to a vesting schedule. All of the non-qualified stock options granted under the plan had a ten year term and were subject to a vesting period. The following table summarizes options outstanding at December 31, 2011, 2010, and 2009:
| 2011 | 2010 | 2009
|  |  | Weighted |  |  |  | Weighted |  | Weighted
|  |  | Average |  | Aggregate |  | Average |  | Average
|  |  | Exercise |  | Intrinsic |  | Exercise |  | Exercise
| Shares |  | Price |  | Value | Shares | Price | Shares | Price
Outstanding, beginning of year | 22,000 | $ | 21.59 |  |  | 22,000 | $ | 21.59 | 22,000 | $ | 21.59
Granted | - |  | - |  |  | - |  | - | - |  | -
Exercised | - |  | - |  |  | - |  | - | - |  | -
Forfeited | - |  | - |  |  | - |  | - | - |  | -
Outstanding, end of year | 22,000 | $ | 21.59 |  |  | 22,000 | $ | 21.59 | 22,000 | $ | 21.59
Exercisable, end of year | 22,000 | $ | 21.59 | $ | - | 22,000 | $ | 21.59 | 22,000 | $ | 21.59
Weighted average fair value of |  |  |  |  |  |  |  |  |  |  |
options granted during the year |  | $ | - |  |  |  | $ | - |  | $ | -
The aggregate intrinsic value in the table is equal to the amount that would have been received by the option holders had all options been exercised on December 31, 2011. It is derived from the amount by which the current market value of the underlying stock exceeds the exercise price of the option. This amount fluctuates in relation to the market value of the Company's stock. The following table summarizes options outstanding and exercisable at December 31, 2011:
|  | Options Outstanding | Options Exercisable
|  |  | Weighted |  |  |  |  |
|  |  | Average |  | Weighted |  |  | Weighted
| Range of |  | Remaining |  | Average |  |  | Average
| Exercise | Number | Contractual |  | Exercise | Number |  | Exercise
| Price | Outstanding | Life (in years) |  | Price | Exercisable |  | Price
$ | 21.63 | 11,000 | 1.75 | $ | 21.63 | 11,000 | $ | 21.63
| 21.55 | 11,000 | 2.75 |  | 21.55 | 11,000 |  | 21.55
$ | 21.55 - 21.63 | 22,000 | 2.25 | $ | 21.59 | 22,000 | $ | 21.59
Restricted Stock provides grantees with rights to shares of common stock upon completion of a service period or achievement of Company performance measures. During the restriction period, all shares are considered outstanding and dividends are paid to the grantee. Outside directors are periodically granted restricted shares which vest over a period of less than six months. During 2011, executive officers were granted restricted shares which vest over a three year service period and restricted shares which vest based on meeting performance measures over a three year period. The following table presents the activity for Restricted Stock for the years ended December 31, 2011, 2010 and 2009:
| 2011 | 2010 | 2009
|  |  | Weighted |  |  | Weighted |  |  | Weighted
|  |  | Average |  |  | Average |  |  | Average
|  |  | Grant Date |  |  | Grant Date |  |  | Grant Date
| Shares |  | Fair Value | Shares |  | Fair Value | Shares |  | Fair Value
Nonvested, beginning of year | 12,772 |  | $ | 16.89 | 13,335 |  | $ | 20.00 | 11,492 |  | $ | 26.16
Granted | 12,300 |  |  | 16.76 | 12,900 |  |  | 16.14 | 11,700 |  |  | 16.06
Vested | (9,291 | ) |  | 17.55 | (7,936 | ) |  | 19.51 | (7,509 | ) |  | 21.12
Forfeited | (2,081 | ) |  | 18.38 | (5,527 | ) |  | 18.86 | (2,348 | ) |  | 26.94
Nonvested, end of year | 13,700 |  | $ | 16.11 | 12,772 |  | $ | 16.89 | 13,335 |  | $ | 20.00
The Company recognizes compensation expense over the restricted period. Compensation expense was $166,000, $116,000, and $166,000 during 2011, 2010, and 2009, respectively. The total grant date fair value of Restricted Stock which vested was $163,000 and $155,000 for the years ended December 31, 2011 and 2010, respectively. Unrecognized compensation cost related to unvested Restricted Stock was $47,000 at December 31, 2011. This amount is expected to be recognized over a weighted average period of 1.1 years.

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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 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: 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 6: 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 7: 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=6406099&loc=d3e25284-112666 Reference 8: 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 + Details
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