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Shareholders' Equity (Tables)

12 Months Ended

Jan. 31, 2014

Equity [Abstract]

Summary of Number of Shares Issued of Common Stock

The number of shares issued of common stock is summarized below:

		2014				2013
Balance at beginning of year			9,031,756				8,956,488
Exercise of employee stock options			210,790				66,313
Restricted stock vesting			42,325				—
Shares issued to employee stock purchase plan			3,989				5,976
Share-based compensation			2,365				2,979
Balance at end of year			9,291,225				9,031,756

Aggregated Information Regarding Stock Options Granted

Aggregated information regarding stock options granted under the Plan is summarized below:

		Number of Shares				Option Price Per Share				Weighted Average Option Price Per Share
Options Outstanding, January 31, 2013			916,612			$	2.40-11.90			$	8.46
Options Granted			56,800			$	10.50-10.60			$	10.54
Options Exercised			(210,790	)		$	2.40-11.90			$	8.33
Options Expired			(25,975	)		$	2.40-11.90			$	9.42
Options Outstanding, January 31, 2014			736,647			$	5.78-11.90			$	8.63
Options Exercisable, January 31, 2014			570,324			$	5.78-11.90			$	8.57

Summary of Options Outstanding

Set forth below is a summary of options outstanding at January 31, 2014:

Outstanding														Exercisable
Range of Exercise prices		Options				Weighted Average Exercise Price				Remaining Contractual Life				Options				Weighted Average Exercise Price
$5.78-8.73			500,422			$	7.66				4.7				390,299			$	7.57
$8.74-11.90			236,225			$	10.68				4.7				180,025			$	10.73
			736,647												570,324

Fair Value of Stock Options Granted

The fair value of each stock option granted was estimated on the grant date using the Black-Scholes option-pricing model with the following weighted average assumptions:

		Years Ended January 31,
		2014		2013
Risk-free interest rate		0.81%-0.84%		0.62%-1.20%
Expected life (years)		5		5
Expected volatility		38.07%-38.46%		38.74%-39.46%
Expected dividend yield		2.63%		3.41-3.46%

Aggregated Information Regarding RSUs Granted

Aggregated information regarding RSUs and RSAs granted under the Plan is summarized below:

		RSAs & RSUs				Weighted Average Grant Date Fair Value
Outstanding at January 31, 2013			96,900			$	8.10
Granted			57,544				10.14
Vested			(46,798	)			8.27
Expired or canceled			(1,150	)			8.35
Outstanding at January 31, 2014			106,496			$	9.12

Share-Based Compensation Expense

Share-based compensation expense has been recognized as follows:

		Years Ended January 31,
		2014				2013
(In thousands)
Stock Options		$	192			$	163
Restricted Stock Awards and Restricted Stock Units			370				317
Total		$	562			$	480

Summarized Plan Activity

Summarized plan activity is as follows:

		Years Ended January 31,
		2014				2013
Shares reserved, beginning			64,231				70,207
Shares purchased			(3,989	)			(5,976	)
Shares reserved, ending			60,242				64,231

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Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented.

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