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Share-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2013
Share-Based Compensation  
Schedule of stock option activity

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Weighted-

 

Average

 

 

 

 

 

 

 

Average

 

Remaining

 

Aggregate

 

 

 

Number of 

 

Exercise

 

Contractual

 

Intrinsic

 

Options 

 

Shares 

 

Price

 

Life (Yrs.)

 

Value (000’s)

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2013

 

340,140

 

$

31.79

 

 

 

 

 

Granted

 

23,007

 

41.45

 

 

 

 

 

Exercised

 

(37,021

)

28.47

 

 

 

 

 

Expired/Forfeited

 

(1,666

)

22.80

 

 

 

 

 

Outstanding at September 30, 2013

 

324,460

 

32.90

 

4.71

 

$

7,224

 

 

 

 

 

 

 

 

 

 

 

Exercisable at September 30, 2013

 

262,100

 

32.28

 

3.90

 

$

5,998

 

 

 

 

 

 

 

 

 

 

 

Weighted-average fair value of options granted during the year

 

$

15.66

 

 

 

 

 

 

 

Schedule of weighted-average assumptions used in valuing options

 

 

 

Nine Months Ended

 

 

 

September 30,

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Dividend yield

 

1.70%

 

2.10%

 

Expected life

 

6 years

 

6 years

 

Expected volatility

 

42%

 

46%

 

Risk-free interest rate

 

1.02%

 

1.06%

 

 

Summary of nonvested restricted stock

 

 

 

 

 

Weighted-

 

 

 

 

 

Average

 

 

 

 

 

Grant-Date

 

Restricted Stock 

 

Shares

 

Fair Value

 

 

 

 

 

 

 

Nonvested at January 1, 2013

 

172,847

 

$

 

30.84

 

Granted

 

78,004

 

42.24

 

Vested

 

(13,800

)

33.05

 

Forfeited

 

(650

)

39.16

 

Nonvested at September 30, 2013

 

236,401

 

34.45

 

 

Summary of nonvested RSUs

 

 

 

 

 

Weighted-

 

 

 

 

 

Average

 

 

 

 

 

Grant-Date

 

 Restricted Stock Units 

 

Shares 

 

Fair Value

 

 

 

 

 

 

 

Nonvested at January 1, 2013

 

 

$

 

Granted

 

43,820

 

51.01

 

Nonvested at September 30, 2013

 

43,820

 

51.01