STOCK BASED COMPENSATION PLAN (Tables)
 9 Months Ended
Sep. 30, 2012
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block]

The weighted-average assumptions for options granted during the nine month period ended September 30, 2012 and the resulting estimated weighted average fair value per share is presented below. No other options have been granted during 2012.

 

  September 30, 
  2012 
Assumptions:    
Risk-free interest rate  1.76%
Expected dividend yield  -%
Expected life (years)  10 
Expected common stock market price volatility  54%
Estimated fair value per share $2.01 
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

A summary of option activity under the 2006 Plan for the nine month period ended September 30, 2012 is presented below:

 

        Weighted    
     Weighted  Average    
  Number  Average  Remaining  Aggregate 
  of  Exercise  Contractual  Intrinsic 
  Options  Price  Term  Value 
           (Dollars In Thousands) 
             
Outstanding, beginning of period  363,240  $9.62         
Granted during period  36,000   3.13         
Forfeited during period  (9,000)  1.81         
Exercised during period  -   -         
Outstanding, end of period  390,240  $9.20   7.0  $166 
                 
Eligible for exercise at period end  143,416  $17.81   4.3  $-