Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2012

Share-based Compensation [Abstract]

Details of Compensation Expense

The following table details our compensation expense and the related income tax benefit as of December 31, 2012, 2011 and 2010:

(Dollars in thousands)

	2012		2011		2010
Employee equity-based compensation expense:
Performance shares	$	3,440	$	3,821	$	3,368
Restricted stock units	627		583		584
Total employee equity-based compensation expense	$	4,067	$	4,404	$	3,952
Director deferred compensation expense	$	2,008	$	619	$	946
Actual tax benefit realized for tax deductions from equity-based plans	$	525	$	—	$	—

Summary of Outstanding Stock Options

A summary of the status of outstanding stock options as of December 31, 2012, 2011 and 2010 and changes during those years is presented below:

	2012					2011					2010
	SHARES			WEIGHTED AVG. EXERCISE PRICE		SHARES			WEIGHTED AVG. EXERCISE PRICE		SHARES			WEIGHTED AVG. EXERCISE PRICE
Outstanding at January 1	144,684				$23.34	222,130				$21.64	329,426				$21.14
Shares exercised	(60,857		)	17.66		(77,446		)	18.47		(107,296		)	20.10
Outstanding and exercisable at December 31	83,827			27.46		144,684			23.34		222,130			21.64
Total intrinsic value of options exercised during the year (in thousands)	$	938				$	1,496				$	1,609

Fair Value of Performance Share Awards

The following table presents the key inputs used in calculating the fair value of the performance share awards in 2012, 2011 and 2010, and the resulting fair values:

	2012			2011			2010
Shares granted	85,028			77,767			81,162
Stock price as of valuation date	$	31.11		$	39.10		$	31.88
Risk-free rate	0.40		%	1.26		%	1.29		%
Fair value of a performance share	$	34.24		$	55.84		$	45.30

Summary of Outstanding Performance Share Awards

The following table summarizes outstanding performance share awards as of December 31, 2012, 2011 and 2010, and changes during those years:

(Dollars in thousands – except per-share amounts)

	2012					2011					2010
	SHARES			WEIGHTED AVG. GRANT DATE FAIR VALUE		SHARES			WEIGHTED AVG. GRANT DATE FAIR VALUE		SHARES			WEIGHTED AVG. GRANT DATE FAIR VALUE
Unvested shares outstanding at January 1	154,594				$50.54	184,601				$38.45	171,595				$40.04
Granted	85,028			34.24		77,767			55.84		81,162			45.30
Vested	(76,812		)	45.30		(103,960		)	33.32		(57,291		)	52.75
Forfeited	(2,596		)	44.99		(3,814		)	42.77		(10,865		)	39.24
Unvested shares outstanding at December 31	160,214			44.50		154,594			50.54		184,601			38.45
Total grant date fair value of share awards vested during the year	$	3,480				$	3,464				$	3,022
Aggregate intrinsic value of unvested share awards at December 31	$	6,019				$	4,747				$	5,752

Summary of Outstanding RSU Awards

A summary of the status of outstanding RSU awards as of December 31, 2012, 2011 and 2010, and changes during these years is presented below:

	2012					2011					2010
	SHARES			WEIGHTED AVERAGE GRANT DATE FAIR VALUE		SHARES			WEIGHTED AVERAGE GRANT DATE FAIR VALUE		SHARES			WEIGHTED AVERAGE GRANT DATE FAIR VALUE
Unvested shares outstanding at January 1	36,359				$35.60	41,715				$29.37	41,559				$32.57
Granted	20,225			31.53		18,053			38.57		21,559			33.17
Vested	(14,861		)	32.41		(21,510		)	26.26		(16,639		)	42.23
Forfeited	(1,504		)	33.36		(1,899		)	32.78		(4,764		)	29.56
Unvested shares outstanding at December 31	40,219			34.82		36,359			35.60		41,715			29.37
Total grant date fair value of RSU awards vested during the year (in thousands)	$	482				$	565				$	703
Aggregate intrinsic value of unvested RSU awards at December 31 (in thousands)	$	1,575				$	1,131				$	1,395

Summary of Outstanding Stock Options by Exercise Price Range

The following table summarizes information about stock options outstanding at December 31, 2012:

	OPTIONS OUTSTANDING AND EXERCISABLE
RANGE OF OPTION PRICES	NUMBER OUTSTANDING AT 12/31/12	WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE	WEIGHTED AVERAGE OPTION PRICE		AGGREGATE INTRINSIC VALUE (IN THOUSANDS)
$19.2569	24,882	0.92 years	$	19.26
$30.9204	58,945	1.92 years	30.92
$19.2569 to $30.9204	83,827	1.62 years	27.46		$	980