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Equity Incentive Plan (Tables)
12 Months Ended
Dec. 31, 2013
Equity Incentive Plan  
Schedule of stock option activity
 
  Number of
Shares Subject
to Option
  Weighted
Average
Exercise Price
  Weighted Average
Remaining
Contractual
Term
  Aggregate Intrinsic
Value

Options outstanding, December 31, 2010

    587,555     16.00   9.7 years   $—

Granted

    543,380     15.27        

Forfeited

    (122,848 )   15.80        

Expired

    (8,074 )   16.00        

Exercised

    (1,962 )   16.00       Less than $0.1 million
                 

Options outstanding, December 31, 2011

    998,051   $ 15.63   8.9 years   $2.2 million

Granted

    236,893     23.87        

Forfeited

    (119,723 )   16.62        

Expired

    (156 )   16.00        

Exercised

    (97,870 )   16.04       $0.8 million
                 

Options outstanding, December 31, 2012

    1,017,195     17.25   8.2 years   $10.6 million

Granted

    209,268     32.50        

Forfeited

    (37,232 )   23.00        

Expired

    (535 )   34.82        

Exercised

    (54,781 )   16.86       $1.0 million
                 

Options outstanding, December 31, 2013

    1,133,915     19.89   7.6 years   $14.0 million

Exercisable at December 31,

   
 
   
 
 

 

 

 

2011

    130,942   $ 16.00   8.7 years   $0.2 million

2012

    287,036   $ 15.74   7.9 years   $3.4 million

2013

    498,176   $ 16.51   7.1 years   $7.8 million
Schedule of unvested shares subject to option
 
  Number of
Shares Subject
to Option
  Weighted
Average Fair
Value at Grant Date
 

Unvested balance, December 31, 2010

    587,555     4.95  

Granted

    543,380     4.89  

Forfeited

    (122,848 )   4.93  

Vested

    (140,978 )   4.92  
           

Unvested balance, December 31, 2011

    867,109   $ 4.92  

Granted

    236,893     7.76  

Forfeited

    (119,723 )   5.24  

Vested

    (254,120 )   4.96  
           

Unvested balance, December 31, 2012

    730,159   $ 5.70  

Granted

    209,268     10.01  

Forfeited

    (37,232 )   7.21  

Vested

    (266,456 )   5.54  
           

Unvested balance, December 31, 2013

    635,739   $ 7.10  
           
           
Summary of assumptions used to value the stock options granted
  2013   2012   2011  

Expected term (in years)

    6.25     6.25     6.25  

Expected volatility

    43.86 %   44.08 %   43.07 %

Expected annual dividend

    3.33 %   3.00 %   3.41 %

Risk-free rate

    1.26 %   1.56 %   2.76 %
Schedule of restricted awards
  Restricted
Awards
  Weighted
Average Fair
Value at Grant Date
 

Unvested balance, December 31, 2010

    195,437     15.98  

Granted

    273,473     15.19  

Forfeited

    (51,213 )   15.81  

Vested

    (74,466 )   16.10  
           

Unvested balance, December 31, 2011

    343,231     15.35  

Granted

    412,780     24.59  

Forfeited

    (48,599 )   18.26  

Vested

    (108,717 )   15.46  
           

Unvested balance, December 31, 2012

    598,695   $ 21.37  

Granted

    194,302     32.43  

Forfeited

    (58,199 )   28.44  

Vested

    (239,647 )   20.96  
           

Unvested balance, December 31, 2013

    495,151   $ 25.08