STOCK-BASED COMPENSATION PLANS

3 Months Ended

Mar. 31, 2013

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS

NOTE 10. STOCK-BASED COMPENSATION PLANS

A combined summary of activity in the Company’s stock award and stock option plans for the three months ended March 31, 2013 is presented in the following table:

	Non-vested Stock
	Awards Outstanding				Stock Options Outstanding
			Weighted-				Weighted-
			Average				Average
	Number of		Grant Date		Number of		Exercise
(Shares in thousands)	Shares		Fair Value		Shares		Price
Balance, December 31, 2012	244		$	21.69	688		$	18.13
Granted	146		23.90		—		—
Stock options exercised	—		—		(118	)	15.51
Stock awards vested	(69	)	18.99		—		—
Forfeited	(4	)	22.40		(8	)	18.24
Expired	—		—		(8	)	21.82
Balance, March 31, 2013	317		$	23.29	554		$	18.64
Exercisable options, March 31, 2013					497		$	11.78

During the three months ended March 31, 2013 and 2012, proceeds from stock option exercises totaled $1.8 million and $16 thousand, respectively. During the three months ended March 31, 2013, there were 69 thousand shares issued in connection with vested stock awards.  During the three months ended March 31, 2012, there were 46 thousand shares issued in connection with vested stock awards.  All of these shares were issued from available treasury stock.  Stock-based compensation expense totaled $881 thousand and $466 thousand during the three months ended March 31, 2013 and 2012, respectively. Stock-based compensation expense is recognized ratably over the requisite service period for all awards.