Employee Stock Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2013

Employee Stock Benefit Plans [Abstract]

Stock option activity under share-based compensation plans

Stock option activity under all of the Company’s share-based compensation plans for the nine months ended September 30, 2013 was as follows:

	Number of Options	Weighted Average Exercise Price
Outstanding, January 1, 2013	898,541	$16.65
Granted	259,625	16.59
Exercised	(3,750)	6.24
Cancelled	(19,166)	23.52
Outstanding, September 30, 2013	1,135,250	$16.62
Options exercisable at September 30, 2013	322,625	$17.75

Weighted average assumptions used to estimate fair value of stock options

The Company uses the Black-Scholes option-pricing model to estimate fair value of grants of stock options with the following weighted-average assumptions:

	Nine Months Ended September 30, 2013
Risk-free interest rate	1.26%
Volatility	85.25%
Expected dividend yield	0%
Expected life	5.5 years
Estimated forfeiture rate	0%