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Stock Compensation (Tables)
 12 Months Ended
Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of stock option activity for the period
Options outstanding and exercisable at December 31, 2012, 2011 and 2010 were as follows:
 
Year
Outstanding
 
Range of Exercise
Prices
 
Exercisable
 
Weighted Average
Exercise Price
2012
1,919,021

 
$8.00 to $18.62
 
1,355,112

 
$
11.63

2011
1,997,778

 
$8.00 to $18.62
 
1,429,040

 
$
11.75

2010
1,845,210

 
$8.00 to $18.62
 
1,191,865

 
$
12.21

The following table provides a summary of stock option activity for the period ended December 31, 2012:
 
 
Shares
 
Average
Exercise
Price
 
Weighted
Average
Life
 
Aggregate
Intrinsic
Value
Outstanding at December 31, 2011
1,997,778

 
$
11.33

 
 
 
 
Options Granted
323,950

 
12.96

 
 
 
 
Options Exercised
(288,794
)
 
16.22

 
 
 
 
Cancelled or Forfeited
(113,913
)
 
11.67

 
 
 
 
Outstanding at December 31, 2012
1,919,021

 
$
11.63

 
6.30 years
 
$
6,755

Exercisable at December 31, 2012
1,355,112

 
$
11.63

 
5.31 years
 
$
4,770

The following tables summarize stock option activity in the past three years:
Options granted in 2012, 2011 and 2010:
 
Year
Options
 
Exercise
Price
2012
323,950

 
$12.96
2011
365,025

 
$10.10 to $10.28
2010
345,600

 
$9.97 to $12.46


Options exercised in 2012, 2011 and 2010:
 
Year
Options
 
Exercise
Price
2012
288,794

 
$8.00 to $12.55

2011
59,031

 
$8.00 to $12.55

2010
5,650

 
$
8.00
Fair Value of stock options granted assumptions used
There is no material difference in the valuation of these options using prior models.
 
 
2012
 
2011
 
2010
Risk free interest rate
2.00
%
 
3.79
%
 
3.09
%
Expected dividend yield
2.20
%
 
2.90
%
 
2.86
%
Expected life of award (years)
5.4

 
6.0

 
5.2

Expected volatility
50.00
%
 
50.72
%
 
48.77
%
Fair value per option share
$
4.93

 
$
3.69

 
$
3.01
Summary of restricted stock activity for the period
The following table provides a summary of restricted stock activity for the period ended December 31, 2012:
 
 
Shares
 
Average
Grant-Date
Fair Value
Unvested shares at December 31, 2011
288,500

 
 
Granted
165,495

 
13.79

Vested
(40,500
)
 
—

Forfeited
(50,370
)
 
10.73

Unvested shares at December 31, 2012
363,125

 
$
11.01