Stock Compensation (Tables)

9 Months Ended

Sep. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Fair Value of stock options granted assumptions used

The expected volatility is derived from historical volatility of the Company’s shares and those of similar companies measured against the market as a whole.

Model
Risk free interest rate	1.86		%
Expected dividend yield	2.40		%
Expected life of award (years)	7.00
Expected volatility	50.00		%
Fair value per option share	$	5.39

Summary of stock option activity for the period

The following table provides a summary of stock option activity for the period ended September 30, 2013:

	Shares		Average Exercise Price		Weighted Average Life
Outstanding at January 1, 2013	1,919,021		$	11.63
Options granted	323,400		14.77
Options exercised	(500,971	)	11.34
Cancelled or forfeited	(161,678	)	13.89
Outstanding at September 30, 2013	1,579,772		$	12.14	6.23 years
Exercisable at September 30, 2013	1,060,794		$	11.48	4.97 years

Summary of restricted stock activity for the period

The following table provides a summary of RSU and restricted stock activity for the nine months ended September 30, 2013:

	Awards		Average Grant-Date Fair Value
Unvested at January 1, 2013	363,125
Granted	169,100		$	14.77
Released	(112,000	)	10.02
Cancelled or forfeited	(126,600	)	13.89
Unvested at September 30, 2013	293,625		$	13.10