STOCK-BASED COMPENSATION PLANS

6 Months Ended

Jun. 30, 2014

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS

NOTE 11. STOCK-BASED COMPENSATION PLANS

A combined summary of activity in the Company’s stock award and stock option plans for the six months ended June 30, 2014 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, 2013	334		$	23.26	442		$	20.41
Granted	130		25.05		—		—
Stock options exercised	—		—		(72	)	11.76
Stock awards vested	(66	)	22.81		—		—
Forfeited	(7	)	23.48		—		—
Expired	—		—		(69	)	36.65
Balance, June 30, 2014	391		$	24.33	301		$	20.17
Exercisable options, June 30, 2014					301		$	20.20

During the six months ended June 30, 2014 and 2013, proceeds from stock option exercises totaled $848 thousand and totaled $2.6 million, respectively.  During the six months ended June 30, 2014, there were 66 thousand shares issued in connection with vested stock awards.  During the six months ended June 30, 2013, there were 74 thousand shares issued in connection with vested stock awards.  All of these shares were issued from available treasury stock.  Stock-based compensation expense totaled $1.8 million during the six months ended June 30, 2014 and the six months ended June 30, 2013.  Stock-based compensation expense is recognized ratably over the requisite service period for all awards.