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Employee Benefit and Deferred Compensation Plans (Tables)
 9 Months Ended
Sep. 30, 2013
Compensation and Retirement Disclosure [Abstract]  
Plan expense for non-contributory benefit pension plan and post-retirement health and life plans
The plan expense for the Company-sponsored noncontributory defined benefit pension plan (“Pension Benefits”) and post-retirement health and life plans (“Other Benefits”) for the periods presented was as follows:
 
 
Pension Benefits
 
Other Benefits
 
Three Months Ended
 
Three Months Ended
 
September 30,
 
September 30,
 
2013
 
2012
 
2013
 
2012
Service cost
$
—

 
$
—

 
$
8

 
$
6

Interest cost
222

 
216

 
21

 
16

Expected return on plan assets
(359
)
 
(298
)
 
—

 
—

Prior service cost recognized
—

 
—

 
—

 
—

Recognized actuarial loss
114

 
88

 
70

 
18

Net periodic benefit cost (return)
$
(23
)
 
$
6

 
$
99

 
$
40



 
Pension Benefits
 
Other Benefits
 
Nine Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2013
 
2012
 
2013
 
2012
Service cost
$
—

 
$
—

 
$
21

 
$
18

Interest cost
597

 
646

 
48

 
48

Expected return on plan assets
(979
)
 
(894
)
 
—

 
—

Prior service cost recognized
—

 
—

 
—

 
—

Recognized actuarial loss
313

 
266

 
125

 
54

Net periodic benefit cost (return)
$
(69
)
 
$
18

 
$
194

 
$
120
Stock option grants assumptions
The Company employed the following assumptions with respect to its stock option grants in 2013 and 2012 for the nine month periods ended September 30, 2013 and 2012:
 
 
2013 Grant
 
2012 Grant
Shares granted
52,500

 
172,000

Dividend yield
3.55
%
 
4.55
%
Expected volatility
37
%
 
37
%
Risk-free interest rate
0.76
%
 
0.79
%
Expected lives
6 years

 
6 years

Weighted average exercise price
$
19.14

 
$
14.96

Weighted average fair value
$
4.47

 
$
3.10
Schedule of other share-based compensation activity
The following table summarizes the changes in restricted stock as of and for the nine months ended September 30, 2013:

 
 
Performance-Based Restricted Stock
 
Weighted Average Grant-Date Fair Value
 
Time- Based Restricted Stock
 
Weighted Average Grant-Date Fair Value
Nonvested at beginning of period
 
—

 
$
—

 
9,684

 
$
15.49

Granted
 
69,850

 
19.14

 
32,338

 
22.70

Vested
 
—

 
—

 
(9,038
)
 
15.49

Cancelled
 
—

 
—

 
(646
)
 
15.49

Nonvested at end of period
 
69,850

 
$
19.14

 
32,338

 
$
22.70