Stock Compensation (Tables)

9 Months Ended

Sep. 30, 2014

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	2.80		%
Expected dividend yield	2.50		%
Expected life of award (years)	7.0
Expected volatility	50.00		%
Fair value per option share	$	7.05

Summary of stock option activity for the period

The following table provides a summary of stock option activity for the period ended September 30, 2014:

	Shares		Average Exercise Price		Weighted Average Life
Outstanding at January 1, 2014	1,574,572		$	12.14
Options granted	209,500		20.93
Options exercised	(196,541	)	12.27
Canceled or forfeited	(35,752	)	15.48
Outstanding at September 30, 2014	1,551,779		$	13.23	5.90 years
Exercisable at September 30, 2014	1,105,242		$	11.62	4.76 years

Summary of restricted stock activity for the period

The following table provides a summary of combined RSU and restricted stock activity for the period ended September 30, 2014:

	Awards		Average Grant-Date Fair Value
Unvested at January 1, 2014	275,525
Granted	104,100		$	20.93
Released	(123,829	)	11.75
Canceled or forfeited	(19,600	)	17.34
Unvested at September 30, 2014	236,196		$	16.78