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Stock Option Plan | 12 Months Ended
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Dec. 31, 2011
Stock Option Plan [Abstract] |
Stock Option Plan | Note 14 – Stock option plan On October 21, 1999, the Board of Directors adopted the "1999 Stock Option Plan" for officers and employees. In 2010, a stock dividend of 10% was declared affecting the aforementioned grants retroactively (See Note 15). The ability to grant shares under the 1999 Stock Option Plan expired on October 21, 2009. The plan expired with 25,832 shares not granted. Stock option plan activity for the year ended December 31, 2011 is summarized below:
|  |  |  |  | Weighted | Value of |
|  |  |  |  | Average | in-the-money
|  |  |  | Weighted | Remaining | options |
|  |  |  | Average | Contractual | (Aggregate |
|  |  |  | Exercise | Life (in | Intrinsic |
| Shares |  |  | Price | years) | Value) |
Options outstanding, January 1, 2011 | 284,906 |  | $ | 8.42 |  |  |
Granted | - |  |  | - |  |  |
Exercised | (18,672 | ) |  | 3.90 |  |  |
Forfeited | (49,348 | ) |  | 8.31 |  |  |
Options outstanding, December 31, |  |  |  |  |  |  |
2011 | 216,886 |  | $ | 8.83 | 2.7 | $ | -
Options exercisable, December 31, 2011 | 216,886 |  | $ | 8.83 | 2.7 | $ | -
The total approximate value of in-the-money options exercised during 2011 was $9. There is no additional unrecognized compensation expense related to non vested option awards associated with the 1999 Stock Option Plan. The following is summarized information concerning currently outstanding and exercisable options as adjusted for all stock dividends previously declared and paid:
|  |  | Options Outstanding and Exercisable |
Range of Exercise |  | Remaining | Weighted Average
Prices ($) |  | Number of Options | Contractual Life | Exercise Price ($)
5.20 | to | 6.71 | 46,411 | 1.1 years | 5.39
7.73 | to | 10.84 | 100,660 | 2.6 years | 8.59
11.45 | to | 12.79 | 69,815 | 4.0 years | 11.46
5.20 | to | 12.79 | 216,886 | 2.7 years | 8.83

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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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