Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2013

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

Summary of Options Outstanding

	Outstanding		Exercisable
	Number	Weighted Average Remaining Contractual Life (Years)	Number	Weighted Average Exercise Price
Range of Exercise Prices
$5.34-$5.39	37,500	8.16	14,167	$	5.38
$9.07-$9.56	137,363	9.66	—	—
$14.47	82,000	4.35	82,000	14.47
$15.35-$16.50	52,500	3.46	52,500	15.78
$19.10	30,000	2.34	30,000	19.10
$19.17	30,000	1.34	30,000	19.17
Outstanding at end of period	369,363	5.39	208,667	16.12

Summary of Stock Options

A summary of the status of stock options at September 30, 2013 and 2012 is presented in the table below:

	2013		2012
	Options	Weighted Average Exercise Price per Share	Options	Weighted Average Exercise Price per Share
Outstanding at beginning of period	232,000	14.50	197,000	16.12
Granted	137,363	9.18	35,000	$5.39
Forfeited or expired	—	—	—	—
Exercised	—	—	—	—
Stock dividend or split	—	—	—	—
Outstanding at end of period	369,363	12.52	232,000	14.50
Exercisable at end of period	208,667	15.52	197,000	16.12

Schedule of Weighted Average Valuation Assumptions for Stock Options

The per share weighted-average fair value of stock options granted during the nine months of 2013 and 2012 was $2.15 and $1.22, respectively on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

	Three Months Ended September 30,				Nine Months Ended September 30
	2013		2012		2013		2012
Dividend Yield	3.03	%	—	%	3.07	%	3.38	%
Expected volatility	32.54	%	—	%	32.60	%	33.00	%
Risk-free interest rate	1.98	%	—	%	1.37	%	1.27	%

Summary of the Status of Restricted Shares

A summary of the status of restricted shares at September 30, 2013 is presented in the table below:

	Nonvested Shares		Weighted Average Grant Date Fair Value
Nonvested at January 1, 2013	143,031		$	5.07
Granted	—		—
Vested	(52,499	)	4.68
Forfeited or expired	—		—
Nonvested at September 30, 2013	90,532		5.29