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Equity-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2011

The following table details our compensation expense for the quarters and nine months ended September 30:



	Quarter Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in thousands)	2011			2010			2011		2010
Employee equity-based compensation expense:
Performance shares	$	942		$	832		$	2,707	$	2,393
Restricted stock units	155			149			437		451
Total employee equity-based compensation expense	$	1,097		$	981		$	3,144	$	2,844
Related net income tax benefit	$	—		$	—		$	—	$	—

Director deferred compensation expense (income)	$	(373	)	$	(12	)	$	484	$	917

Summary of Outstanding Stock Options

The following table summarizes outstanding stock options as of September 30, 2011, and changes during the nine months ended September 30, 2011:



(Dollars in thousands, except exercise prices)	Shares		Weighted Avg. Exercise Price		Aggregate Intrinsic Value
Outstanding at January 1	222,130		$	21.64
Shares exercised	(65,382	)	18.81		$	1,316
Shares canceled or expired	—		—
Outstanding and exercisable at September 30	156,748		22.82		1,363

Summary of Outstanding Stock Options by Exercise Price Range

The following table summarizes outstanding stock options as of September 30, 2011:



	Options Outstanding and Exercisable
Range of Exercise Prices	Outstanding	Weighted Avg. Remaining Contractual Life		Weighted Avg. Exercise Price
$13.8594 to $16.6452	47,908	0.93	years	$	14.89
$19.2569	42,995	2.17	years	19.26
$30.9204	65,845	3.17	years	30.92
$13.8594 to $30.9204	156,748	2.21	years	22.82

Fair Value of Performance Share Awards

The following table presents the key inputs used in the Monte Carlo simulation method to calculate the fair value of the performance share awards in 2011 and 2010, and the resulting fair values:



	2011			2010
Shares granted	77,767			81,162
Stock price as of valuation date	$	39.10		$	31.88
Risk-free rate	1.26		%	1.29		%
Fair value of a performance share	$	55.84		$	45.30

Summary of Outstanding Performance Share Awards

The following table summarizes outstanding performance share awards as of September 30, 2011, and changes during the nine months ended September 30, 2011:



(Dollars in thousands, except grant date fair value)	Shares		Weighted Avg. Grant Date Fair Value		Aggregate Intrinsic Value
Unvested shares outstanding at January 1	184,601		$	38.45
Granted	77,767		55.84
Forfeited	(3,814	)	42.77
Unvested shares outstanding at September 30	258,554		43.62		$	7,923

Summary of Outstanding RSU Awards

The following table summarizes outstanding RSU awards as of September 30, 2011, and changes during the nine months ended September 30, 2011:



(Dollars in thousands, except grant date fair value)	Shares		Weighted Avg. Grant Date Fair Value		Aggregate Intrinsic Value
Unvested shares outstanding at January 1	41,715		$	29.37
Granted	18,053		38.57
Vested	(1,404	)	39.17
Forfeited	(1,619	)	32.00
Unvested shares outstanding at September 30	56,745		31.98		$	1,789