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Share-Based Compensation
9 Months Ended
Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Share-Based Compensation

17. Share-Based Compensation

During the nine months ended September 30, 2013, the Company granted 1,050,904 options that cliff vest in three years based upon a service condition and have a ten year contractual term. The weighted-average fair value of the stock options of $15.05 was based on the estimate of fair value on the dates of grant using the Black-Scholes option pricing model and related assumptions. During this period, the Company also issued 15,260 shares of fully vested common stock to its non-employee directors. The fair value of the common stock of $34.40 was based on the average of the high and low sales prices on the date of issuance. The Company’s share-based compensation expense has been reflected in salaries and benefits expense in the consolidated statements of comprehensive income.