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Equity-Based Compensation Plans (Tables)
9 Months Ended
Sep. 30, 2013
Equity-Based Compensation Plans Tables  
Schedule of option pricing assumptions

 

    2012
Expected dividend yield   3.28%
Risk-free interest rate   1.64%
Expected life   10 years
Expected volatility   41.82%

Schedule of Company's stock options outstanding

 

The following table presents information regarding the activity for the first nine months of 2013 related to all of the Company’s stock options outstanding:

 

    Options Outstanding  
    Number of
Shares
    Weighted-
Average
Exercise
Price
    Weighted-
Average
Contractual
Term (years)
    Aggregate
Intrinsic
Value
 
                         
Balance at December 31, 2012     521,613     $ 17.80                  
                                 
   Granted                            
   Exercised                            
   Forfeited                            
   Expired     (54,800 )     16.62                  
                                 
Outstanding at September 30, 2013     466,813     $ 17.94       3.5     $ 353,400  
                                 
Exercisable at September 30, 2013     391,813     $ 19.51       2.4     $ 2,400