Purchase of Common Shares

3 Months Ended

Mar. 31, 2012

Purchases of Common Shares [Abstract]

Purchase of Common Shares

Purchase of Common Shares

On May 4, 2011, the Board of Directors of the Company approved a  common share repurchase program that authorizes the repurchase of up to $40 million in open market value. The shares may be repurchased over time, depending on market conditions, the market price of the Company’s common shares, the Company’s capital levels and other considerations. The share repurchase program  is expected to expire one year from the date the Plan was approved by the Company’s Board of Directors. During the three months ended March 31, 2012 , no shares were repurchased under the program.