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Share-Based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2013
Share-Based Compensation Amounts Included in Net Income
The table below presents the amounts included in net income related to share-based compensation expense for the awards granted under the DSCP and the PIP for the years ended December 31, 2013, 2012 and 2011:
 
For the Year Ended December 31,
 
2013
 
2012
 
2011
(in thousands)
 
 
 
 
 
Directors Stock Compensation Plan
$
478

 
$
443

 
$
407

Performance Incentive Plan
1,153

 
976

 
1,043

Total compensation expense
1,631

 
1,419

 
1,450

Less: tax benefit
657

 
569

 
581

Share-Based Compensation amounts included in net income
$
974

 
$
850

 
$
869
Directors Stock Compensation Plan
  
Summary of Stock Activity under DSCP
A summary of stock activity under the DSCP for the years ended December 31, 2013, 2012 and 2011 is presented below.
 
Number of
Shares
 
Weighted Average
Grant Date Fair Value
Outstanding — December 31, 2011
—

 
$
—

Granted
10,800

 
$
41.06

Vested
10,800

 
$
41.06

Outstanding — December 31, 2012
—

 
$
—

Granted
9,427

 
$
52.49

Vested
9,427

 
$
52.49

Outstanding — December 31, 2013
—

 
$
—
Performance Incentive Plan
  
Summary of Stock Activity under DSCP
A summary of stock activity under the PIP is presented below:
 
Number of
Shares
 
Weighted Average
Fair Value
Outstanding — December 31, 2011
87,414

 
$
34.47

Granted
35,706

 
$
39.62

Vested
13,837

 
$
29.19

Forfeited(1)
21,600

 
$
36.57

Expired
3,038

 
$
26.29

Outstanding — December 31, 2012
84,645

 
$
37.86

Granted
23,491

 
$
44.85

Vested
24,332

 
$
33.26

Expired
3,043

 
$
39.12

Outstanding — December 31, 2013
80,761

 
$
42.30

(1) 
Includes shares settled with a cash payment pursuant to the terms of a separation agreement with a former named executive officer.