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Equity Compensation, Employment Agreements and Other Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2013
Compensation Related Costs [Abstract]  
Schedule of dividend equivalent rights activity
The following table presents information about the Company’s DERs at and for each of the years ended December 31, 2013, 2012 and 2011:
 
 
For the Year Ended December 31,
 
2013
 
2012
 
2011
 
Number of
DERs
 
Weighted
Average
Grant Date
Fair Value (1)
 
Number of
DERs
 
Weighted
Average
Grant Date
Fair Value (1)
 
Number of
DERs
 
Weighted
Average
Grant Date
Fair Value (1)
Outstanding at beginning of year:
1,280,898

 
$
7.08

 
1,655,848

 
$
7.35

 
1,514,767

 
$
8.40

Granted
40,324

 
9.14

 
21,938

 
8.17

 
305,000

 
2.71

Cancelled, forfeited or expired
(469,894
)
 
9.32

 
(396,888
)
 
8.24

 
(163,919
)
 
8.48

Outstanding at end of year
851,328

 
$
5.95

 
1,280,898

 
$
7.08

 
1,655,848

 
$
7.35


(1) The grant date fair value of DERs is based on the weighted average grant date fair value of the attached or associated equity award.
Schedule of stock options activity
The following table presents information about the Company’s Options at and for each of the years ended December 31, 2013, 2012 and 2011:
 
 
For the Year Ended December 31,
 
2013
 
2012
 
2011
 
Number
of
Options
 
Weighted
Average
Exercise Price
 
Number
of
Options
 
Weighted
Average
Exercise Price
 
Number
of
Options
 
Weighted
Average
Exercise Price
Outstanding at beginning of year:
427,000

 
$
10.14

 
482,000

 
$
10.12

 
537,000

 
$
10.11

Granted
—

 
—

 
—

 
—

 
—

 
—

Cancelled, forfeited or expired
(402,000
)
 
10.25

 
(50,000
)
 
10.25

 
(55,000
)
 
10.06

Exercised (1)
(20,000
)
 
8.40

 
(5,000
)
 
6.99

 
—

 
—

Outstanding at end of year
5,000

 
$
8.40

 
427,000

 
$
10.14

 
482,000

 
$
10.12

Options exercisable at end of year
5,000

 
$
8.40

 
427,000

 
$
10.14

 
482,000

 
$
10.12



(1) The intrinsic value of Options exercised was approximately $19,000 and $6,000 for the years ended December 31, 2013 and 2012, respectively.
Schedule of the status of stock options by exercise price range or by exercise price
The following table presents certain information about the Company’s Options that were outstanding as of December 31, 2013:
 
Exercise Price or 
Price Range
 
Options
Outstanding
 
Weighted
Average
Exercise Price
 
Weighted Average
Remaining
Contractual Life
(years)
$8.40
 
5,000
 
$8.40
 
0.6
Schedule of restricted stock activity
The following table presents information with respect to the Company’s restricted stock for the years ended December 31, 2013, 2012 and 2011:
 
 
For the Year Ended December 31,
 
2013
 
2012
 
2011
 
Shares of
Restricted
Stock
 
Weighted
Average
Grant Date
Fair Value (1)
 
Shares of
Restricted
Stock
 
Weighted
Average
Grant Date
Fair Value (1)
 
Shares of
Restricted
Stock
 
Weighted
Average
Grant Date
Fair Value (1)
Outstanding at beginning of year:
483,442

 
$
7.74

 
752,155

 
$
7.33

 
792,824

 
$
7.40

Granted
231,531

 
7.33

 
418,184

 
7.99

 
387,418

 
7.03

Vested (2)
(270,456
)
 
7.77

 
(685,864
)
 
7.45

 
(415,890
)
 
7.19

Cancelled/forfeited
(550
)
 
7.72

 
(1,033
)
 
6.91

 
(12,197
)
 
7.60

Outstanding at end of year
443,967

 
$
7.50

 
483,442

 
$
7.74

 
752,155

 
$
7.33


(1) The grant date fair value of restricted stock awards is based on the closing market price of the Company’s common stock at the grant date.
(2) All restrictions associated with restricted stock are removed on vesting.
Schedule of restricted stock units activity
The following table presents information with respect to the Company’s RSUs during the years ended December 31, 2013, 2012 and 2011:
 
 
For the Year Ended December 31, 2013
 
RSUs With
Service
Condition
 
Weighted
Average
Grant Date
Fair Value
 
RSUs With
Market and
Service
Conditions
 
Weighted
Average
Grant Date
Fair Value
 
Total
RSUs
 
Total 
Weighted
Average 
Grant Date 
Fair Value
Outstanding at beginning of year:
448,141

 
$
7.61

 
279,507

 
$
4.55

 
727,648

 
$
6.43

Granted
64,483

 
8.23

(1)
48,341

 
2.59

(2)
112,824

 
5.82

Settled
(21,025
)
 
6.20

 
(32,066
)
 
2.80

 
(53,091
)
 
4.15

Cancelled/forfeited
(1,500
)
 
7.77

 
(8,063
)
 
7.89

 
(9,563
)
 
7.88

Outstanding at end of year
490,099

 
$
7.75

 
287,719

 
$
4.32

 
777,818

 
$
6.48

RSUs vested but not settled at end of year
84,199

 
$
8.50

 
14,625

 
$
4.69

 
98,824

 
$
7.93

RSUs unvested at end of year
405,900

(3)
$
7.60

 
273,094

(4)
$
4.30

 
678,994

 
$
6.27

 
 
For the Year Ended December 31, 2012
 
RSUs With
Service
Condition
 
Weighted
Average
Grant Date
Fair Value
 
RSUs With
Market and
Service
Conditions
 
Weighted
Average
Grant Date
Fair Value
 
Total
RSUs
 
Total 
Weighted
Average 
Grant Date 
Fair Value
Outstanding at beginning of year:
722,132

 
$
8.04

 
256,716

 
$
4.78

 
978,848

 
$
7.18

Granted
38,784

 
7.01

(5)
55,654

 
3.26

(6)
94,438

 
4.80

Settled
(297,775
)
 
8.57

 
—

 
—

 
(297,775
)
 
8.57

Cancelled/forfeited
(15,000
)
 
7.77

 
(32,863
)
 
4.17

 
(47,863
)
 
5.30

Outstanding at end of year
448,141

 
$
7.61

 
279,507

 
$
4.55

 
727,648

 
$
6.43

RSUs vested but not settled at end of year
29,250

 
$
7.77

 
14,625

 
$
4.69

 
43,875

 
$
6.74

RSUs unvested at end of year
418,891

 
$
7.60

 
264,882

 
$
4.54

 
683,773

 
$
6.41

 
 
For the Year Ended December 31, 2011
 
RSUs With
Service
Condition
 
Weighted
Average
Grant Date
Fair Value
 
RSUs With
Market and
Service
Conditions
 
Weighted
Average
Grant Date
Fair Value
 
Total
RSUs
 
Total 
Weighted
Average 
Grant Date 
Fair Value
Outstanding at beginning of year:
778,142

 
$
8.15

 
225,875

 
$
5.18

 
1,004,017

 
$
7.49

Granted
39,159

 
6.13

(7)
48,341

 
3.08

(8)
87,500

 
4.44

Settled
(60,169
)
 
8.40

 
—

 
—

 
(60,169
)
 
8.40

Cancelled/forfeited
(35,000
)
 
7.77

 
(17,500
)
 
5.21

 
(52,500
)
 
7.14

Outstanding at end of year
722,132

 
$
8.04

 
256,716

 
$
4.78

 
978,848

 
$
7.18

RSUs vested but not settled at end of year
284,723

 
$
8.68

 
—

 
$
—

 
284,723

 
$
8.68

RSUs unvested at end of year
437,409

 
$
7.62

 
256,716

 
$
4.78

 
694,125

 
$
6.57


(1)   For RSUs with a service condition, determination of the weighted average grant date fair value of the award requires the Company to estimate certain valuation inputs.  In determining the fair value for awards granted in 2013, the Company applied:  (i) a weighted average volatility estimate of approximately 23%, which was determined considering historic volatility in the price of Company’s common stock over the three-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 0.65% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 13%.  There are no post vesting conditions on these awards.
(2)   For RSUs with both a market and service condition, determination of the weighted average grant date fair value of the award requires the Company to estimate certain valuation inputs.  In determining the fair value for awards granted in 2013, the Company applied:  (i) a weighted average volatility estimate of approximately 23%, which was determined considering historic volatility in the price of Company’s common stock over the three-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 0.65% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 13%.  There are no post vesting conditions on these awards.
(3)   Of which, approximately 8,053 are scheduled to vest annually over a three-year period beginning June 30, 2012, 5,000 are scheduled to vest annually over a three-year period beginning September 5, 2012, approximately 8,053 are scheduled to vest annually over a three-year period beginning June 30, 2013, 352,500 are scheduled to vest on December 31, 2014, and approximately 8,053 are scheduled to vest annually over a three-year period beginning June 30, 2014, or earlier in the event of death or disability of the grantee or termination of employment of the grantee by the Company for any reason other than “cause” or by the grantee under certain circumstances as defined in the related RSU award agreement.
(4)   Of which, approximately 16,113 are scheduled to vest annually over a three-year period beginning June 30, 2012, approximately 16,113 are scheduled to vest annually over a three-year period beginning June 30, 2013, 176,250 are scheduled to vest on December 31, 2014, and approximately 16,113 are scheduled to vest annually over a three-year period beginning June 30, 2014, provided certain criteria related to total stockholder returns are met, which are based on a formula that includes changes in the Company’s closing stock price over a one, or four-year period, respectively, and dividends declared on the Company’s common stock during those periods.  A portion of the RSUs may vest earlier in the event of death or disability of the grantee or termination of employment of the grantee by the Company for any reason other than “cause” or by the grantee under certain circumstances as defined in the related RSU award agreement.
(5)   For RSUs with a service condition, determination of the weighted average grant date fair value of the award requires the Company to estimate certain valuation inputs.  In determining the fair value for awards granted in 2012, the Company applied:  (i) a weighted average volatility estimate of approximately 23%, which was determined considering historic volatility in the price of Company’s common stock over the three-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 0.41% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 12%.  There are no post vesting conditions on these awards.
(6)   For RSUs with both a market and service condition, determination of the weighted average grant date fair value of the award requires the Company to estimate certain valuation inputs.  In determining the fair value for awards granted in 2012, the Company applied:  (i) a weighted average volatility estimate of approximately 23%, which was determined considering historic volatility in the price of Company’s common stock over the three-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 0.41%based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 12%.  There are no post vesting conditions on these awards.
(7)   For RSUs with a service condition, determination of the weighted average grant date fair value of the award requires the Company to estimate certain valuation inputs.  In determining the fair value for awards granted in 2011, the Company applied:  (i) weighted average volatility estimates ranging from approximately 31% to 36%, which were determined considering historic volatility in the price of Company’s common stock over the three or six-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 0.33% and 2.23% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 13%.  There are no post vesting conditions on these awards.
(8)   For RSUs with both a market and service condition, determination of the weighted average grant date fair value of the award requires the Company to estimate certain valuation inputs.  In determining the fair value for awards granted in 2011, the Company applied:  (i) a weighted average volatility estimate of approximately 31%, which was determined considering historic volatility in the price of Company’s common stock over the six-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 2.23% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 13%.  There are no post vesting conditions on these awards.
Schedule of expenses related to equity-based compensation
The following table presents the Company’s expenses related to its equity-based compensation instruments for the years ended December 31, 2013, 2012 and 2011:
 
 
 
For the Year Ended December 31,
(In Thousands)
 
2013
 
2012
 
2011
Restricted shares of common stock
 
$
2,150

 
$
5,102

 
$
2,996

RSUs
 
1,813

 
1,149

 
1,264

DERs
 
195

 
237

 
122

Stock options
 
—

 
—

 
3

Total
 
$
4,158

 
$
6,488

 
$
4,385
Schedule of expenses related to deferred compensation plans
The following table presents the Company’s expenses related to its Deferred Plans for its non-employee directors and senior officers for the years ended December 31, 2013, 2012 and 2011:
 
 
 
For the Year Ended December 31,
(In Thousands)
 
2013
 
2012
 
2011
Non-employee directors
 
$
17

 
$
69

 
$
(6
)
Total
 
$
17

 
$
69

 
$
(6
)
Schedule of aggregate income deferred by participants and associated liability under deferred compensation plans
The following table presents the aggregate amount of income deferred by participants of the Deferred Plans through December 31, 2013 and 2012 that had not been distributed and the Company’s associated liability for such deferrals at December 31, 2013 and 2012:
 
 
 
December 31, 2013
 
December 31, 2012
(In Thousands)
 
Undistributed
Income
Deferred (1)
 
Liability Under
Deferred Plans
 
Undistributed
Income
Deferred (1)
 
Liability Under
Deferred Plans
Non-employee directors
 
$
270

 
$
382

 
$
199

 
$
302

Total
 
$
270

 
$
382

 
$
199

 
$
302


(1)  Represents the cumulative amounts that were deferred by participants through December 31, 2013 and 2012, which had not been distributed through such date.