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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of the activity under Employers Mutual's stock option plans
A summary of the stock option activity under Employers Mutual’s stock plans for 2013, 2012 and 2011 is as follows:
 
 
Year ended December 31,
 
 
2013
 
2012
 
2011
 
 
Number
of
options
 
Weighted-
average
exercise
price
 
Number
of
options
 
Weighted-
average
exercise
price
 
Number
of
options
 
Weighted-
average
exercise
price
Outstanding, beginning of year
 
1,588,957

 
$
21.89

 
1,437,095

 
$
21.92

 
1,251,489

 
$
21.25

Granted
 
—

 
—

 
263,161

 
20.98

 
277,180

 
24.40

Exercised
 
(406,532
)
 
21.26

 
(42,619
)
 
17.97

 
(38,631
)
 
18.67

Expired
 
(47,219
)
 
20.35

 
(68,680
)
 
21.51

 
(50,918
)
 
21.51

Forfeited
 
—

 
—

 
—

 
—

 
(2,025
)
 
19.13

Outstanding, end of year
 
1,135,206

 
$
22.17

 
1,588,957

 
$
21.89

 
1,437,095

 
$
21.92

 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable, end of year
 
686,863

 
$
22.37

 
894,706

 
$
21.96

 
762,888

 
$
21.64
Schedule of weighted-average assumptions fair value of each option grant using the Black-Scholes-Merton option-pricing model
Employers Mutual uses the average of the high and low trading prices of the Company's stock on the date of grant to determine the fair value of its restricted stock awards, and estimated the fair value of each option grant on the date of grant using the Black-Scholes-Merton option-pricing model with the following weighted-average assumptions:
 
 
Year ended December 31,
 
 
2013
 
2012
 
2011
Estimated dividend yield
 
—

 
3.81
%
 
3.11
%
Expected volatility
 
—

 
25.2% - 44.7%

 
20.9% - 51.2%

Weighted-average volatility
 
—

 
35.61
%
 
32.76
%
Risk-free interest rate
 
—

 
0.06% - 1.51%

 
0.17% - 2.75%

Expected term (years)
 
—

 
0.25 - 6.40

 
0.25 - 6.40
Summary of non-vested share activity
At December 31, 2013, the Company’s portion of the unrecognized compensation cost associated with restricted stock awards issued under Employers Mutual’s stock plans that are not currently vested was $352,934, with a 3.16 year weighted-average period over which the compensation expense is expected to be recognized.  A summary of non-vested restricted stock activity under Employers Mutual’s stock plans for 2013 is as follows:
 
 
Year ended December 31,
 
 
2013
 
 
Number
of
awards
 
Weighted-
average
grant-date
fair value
Non-vested, beginning of year
 
—

 
$
—

Granted
 
57,720

 
25.90

Vested
 
—

 
—

Forfeited
 
(300
)
 
25.90

Non-vested, end of year
 
57,420

 
$
25.90


At December 31, 2013, the Company’s portion of the unrecognized compensation cost associated with option awards issued under Employers Mutual’s stock plans that are not currently vested was $351,103, with a 1.2 year weighted-average period over which the compensation expense is expected to be recognized.  A summary of non-vested option activity under Employers Mutual’s stock plans for 2013, 2012 and 2011 is as follows:
 
 
Year ended December 31,
 
 
2013
 
2012
 
2011
 
 
Number
of
options
 
Weighted-
average
grant-date
fair value
 
Number
of
options
 
Weighted-
average
grant-date
fair value
 
Number
of
options
 
Weighted-
average
grant-date
fair value
Non-vested, beginning of year
 
694,251

 
$
3.86

 
674,207

 
$
3.58

 
612,701

 
$
2.64

Granted
 
—

 
—

 
263,161

 
3.83

 
277,180

 
5.01

Vested
 
(245,908
)
 
3.35

 
(243,117
)
 
3.05

 
(213,649
)
 
2.75

Forfeited
 
—

 
—

 
—

 
—

 
(2,025
)
 
3.03

Non-vested, end of year
 
448,343

 
$
4.14

 
694,251

 
$
3.86

 
674,207

 
$
3.58
Summary of additional information relating to options outstanding and options vested (exercisable)
The Company’s portion of the total intrinsic value of options exercised under Employers Mutual’s stock plans was $843,685, $54,489 and $54,932 in 2013, 2012 and 2011, respectively.  Under the terms of the pooling and quota share agreements, these amounts were paid to Employers Mutual.  The Company receives the full fair value, as of the exercise date, for all shares issued in connection with option exercises. The Company receives the full fair value, as of the grant date, for all shares issued in connection with the grant of restricted stock awards.  The Company’s portion of the total fair value of options that vested in 2013, 2012 and 2011 was $247,063, $222,180 and $176,131, respectively (no restricted stock awards have vested as of December 31, 2013). Additional information relating to restricted stock awards and options outstanding, and options vested (exercisable) at December 31, 2013 is as follows:
 
 
December 31, 2013
 
 
Number of options/awards
 
Weighted-average exercise price
 
Aggregate intrinsic value
 
Weighted-average remaining term
Restricted stock awards outstanding
 
57,420

 
N/A

 
$
1,758,200

 
3.16
Options outstanding
 
1,135,206

 
$
22.17

 
$
9,586,944

 
5.35
Options exercisable
 
686,863

 
$
22.37

 
$
5,664,006

 
4.12
Summary of employee stock purchase plan activity
During 2013, options were exercised at prices ranging from $21.98 to $26.01.  Activity under the plan was as follows:
 
 
Year ended December 31,
 
 
2013
 
2012
 
2011
Shares available for purchase, beginning of year
 
370,400

 
407,102

 
441,423

Shares purchased under the plan
 
(31,234
)
 
(36,702
)
 
(34,321
)
Shares available for purchase, end of year
 
339,166

 
370,400

 
407,102
Summary of non-employee director stock option plan activity
During 2013, options were exercised at prices ranging from $19.25 to $22.28.  Activity under the plan was as follows:
 
 
Year ended December 31,
 
 
2013
 
2012
 
2011
Shares available for purchase, beginning of year
 
149,404

 
155,467

 
167,848

Shares registered for use in the 2013 plan
 
200,000

 
—

 
—

Shares deregistered under the 2003 plan
 
(148,204
)
 
—

 
—

Shares purchased under the plan
 
(5,035
)
 
(6,063
)
 
(12,381
)
Shares available for purchase, end of year
 
196,165

 
149,404

 
155,467
Summary of dividend reinvestment plan activity
Employers Mutual did not participate in this plan in 2013, 2012 or 2011.  Activity under the plan was as follows:
 
 
Year ended December 31,
 
 
2013
 
2012
 
2011
Shares available for purchase, beginning of year
 
—

 
161,236

 
169,383

Shares registered for use in the plan
 
661,185

 
—

 
—

Shares deregistered under the plan
 
—

 
(161,185
)
 
—

Shares purchased under the plan
 
(2,228
)
 
(51
)
 
(8,147
)
Shares available for purchase, end of year
 
658,957

 
—

 
161,236

Lowest purchase price
 
$
28.11

 
$
21.38

 
$
18.13

Highest purchase price
 
$
31.47

 
$
23.22

 
$
24.25