Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2012

Stock-Based Compensation [Abstract]

Summary of stock option plan activity

The following table summarizes the activity in the Company's stock option plan for the six-months ended June 30, 2012 and 2011:

	Six Months Ended June 30,
	2012				2011
	Number of Shares		Weighted Average Exercise Price		Number of Shares		Weighted Average Exercise Price
Options outstanding at January 1		1,192,680	$	12.89		972,680	$	10.32
Options granted - employees		111,000	$	17.77		180,000	$	24.82
Options granted - directors		40,000	$	17.77		40,000	$	21.62
Options outstanding at June 30		1,343,680	$	13.44		1,192,680	$	12.89
Options exercisable		952,055	$	12.15		735,180	$	11.69
Weighted average remaining term	6.2 years				7.6 years

Summary of fair value assumptions

The fair value of the stock options granted to the Company's employees and independent directors was estimated using the Black-Scholes-Merton pricing model using the following weighted average assumption:

	Six Months Ended June 30,
	2012			2011
Stock price	$	17.77		$	24.24
Exercise price	$	17.77		$	24.24
Expected term:
Employees	6.25 years				6.25 years
Directors	5.5 years			5.5 years
Expected volatility:
Employees		49.5	%		50.2	%
Directors		50.2	%		50.8	%
Dividend yield		0	%		0	%
Risk free rate		0.75	%		1.89	%