XML 84 R42.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock-Based Awards and Programs (Details) (USD $)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Stock-Based Awards and Programs            
Compensation Expense $ 420,000 $ 376,000 $ 1,711,000 $ 1,198,000 $ 2,376,000 $ 2,004,000
Tax Benefit Recognized 146,000 128,000 622,000 427,000 844,000 702,000
Employee Stock Purchase Plan
           
Assumptions used in the model for each grant year            
Risk-free interest rate (as a percent)     0.14% 0.17%    
Expected volatility (as a percent)     14.00% 24.00%    
Expected dividend yield (as a percent)     4.60% 5.00%    
Weighted average fair value per share (in dollars per share) $ 2.78 $ 3.19 $ 2.78 $ 3.19 $ 2.78 $ 3.19
Expected life     12 months 12 months    
Changes in restricted stock awards            
Nonvested, balance at the end of the period (in shares) 62,793 72,899 62,793 72,899 62,793 72,899
Performance-Based Restricted Stock Awards
           
Assumptions used in the model for each grant year            
Risk-free interest rate, low end of range (as a percent)     0.10% 0.17%    
Risk-free interest rate, high end of range (as a percent)     0.50% 0.35%    
Expected volatility (as a percent)     20.40% 20.90%    
Expected dividend yield (as a percent)     4.50% 4.70%    
Expected forfeiture rates (as a percent)     3.00% 3.00%    
Plan cycle     3 years 3 years    
Weighted average fair value per share (in dollars per share) $ 17.84 $ 12.64 $ 17.84 $ 12.64 $ 17.84 $ 12.64
Fair value            
Total unrecognized compensation cost 600,000   600,000   600,000  
Changes in restricted stock awards            
Nonvested, balance at the beginning of the period (in shares)     33,900 37,400    
Granted (in shares)     26,300 10,000    
Awarded/Vested (in shares)     (4,460) (7,823)    
Not Awarded (in shares)     (8,540) (5,677)    
Nonvested, balance at the end of the period (in shares) 47,200 33,900 47,200 33,900 47,200 33,900
Weighted Average Grant Date Price            
Nonvested, balance at the beginning of the period (in dollars per share)     $ 20.25 $ 19.28    
Granted (in dollars per share)     $ 21.36 $ 20.97    
Awarded/Vested (in dollars per share)     $ 18.36 $ 18.12    
Not Awarded (in dollars per share)     $ 18.36 $ 18.12    
Nonvested, balance at the end of the period (in dollars per share) $ 21.39 $ 20.25 $ 21.39 $ 20.25 $ 21.39 $ 20.25
Unrecognized compensation cost related to estimated outstanding awards 600,000   600,000   600,000  
Performance-Based Restricted Stock Awards | Minimum
           
Assumptions used in the model for each grant year            
Expected volatility of peer group stock (as a percent)     17.60% 12.70%    
Fair value percentage     8.00% 34.00%    
Performance-Based Restricted Stock Awards | Maximum
           
Assumptions used in the model for each grant year            
Expected volatility of peer group stock (as a percent)     17.90% 44.20%    
Fair value percentage     104.00% 101.00%    
Stock Options
           
Assumptions used in the model for each grant year            
Risk-free interest rate, low end of range (as a percent)     0.09% 0.20%    
Risk-free interest rate, high end of range (as a percent)     0.43% 0.54%    
Expected volatility (as a percent)     24.00% 25.00%    
Expected dividend yield (as a percent)     4.50% 4.70%    
Expected life     78 months 78 months    
Market value (in dollars per share)     $ 22.31 $ 21.10    
Weighted average fair value per option (in dollars per share) $ 1.55 $ 1.80 $ 1.55 $ 1.80 $ 1.55 $ 1.80
Fair value            
Recognition period       7 months 6 days    
Time-Vested Restricted Stock Awards
           
Assumptions used for estimating fair value of grants outstanding            
Vesting period     3 years      
Period from date of termination of employment due to death, retirement or disability during which the pro-rata portion of the awards are distributed     6 months      
Fair value            
Total unrecognized compensation cost 200,000   200,000   200,000  
Recognition period       1 year 7 months 6 days    
Fair value (in dollars per share)     $ 19.55 $ 18.38    
Changes in restricted stock awards            
Nonvested, balance at the beginning of the period (in shares)     3,300 3,433    
Granted (in shares)     21,600      
Distributed (in shares)       (133)    
Nonvested, balance at the end of the period (in shares) 24,900 3,300 24,900 3,300 24,900 3,300
Weighted Average Grant Date Price            
Nonvested, balance at the beginning of the period (in dollars per share)     $ 20.38 $ 21.84    
Granted (in dollars per share)     $ 21.36      
Distributed (in dollars per share)       $ 20.13    
Nonvested, balance at the end of the period (in dollars per share) $ 22.31 $ 20.35 $ 22.31 $ 20.35 $ 22.31 $ 20.35
Unrecognized compensation cost related to estimated outstanding awards 200,000   200,000   200,000  
Time-Vested Restricted Stock Awards | Minimum
           
Fair value            
Recognition period     4 months 24 days      
Time-Vested Restricted Stock Awards | Maximum
           
Fair value            
Total unrecognized compensation cost   100,000   100,000   100,000
Recognition period     2 years 7 months 6 days      
Weighted Average Grant Date Price            
Unrecognized compensation cost related to estimated outstanding awards   $ 100,000   $ 100,000   $ 100,000