Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2014

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

The following weighted average assumptions were used to determine the fair value of the stock options granted on the original grant date for expense recognition purposes for options granted during the six months ended June 30, 2014 and 2013 using a Black Scholes Model:



	Six months ended
	June 30, 2014		June 30, 2013
Director and Officers:
Expected dividend yield	N/A		1.19	%
Expected volatility	N/A		47.08	%
Risk-free interest rate	N/A		1.55	%
Expected life (in years)	N/A		7

Employees:
Expected dividend yield	2.36	%	1.03	%
Expected volatility	45.77	%	45.66	%
Risk-free interest rate	2.40	%	1.23	%
Expected life (in years)	8		8

Summary of Stock Options Outstanding

The following is a summary of stock options vested and exercisable as of June 30, 2014:



Range of Exercise Prices	Number of Shares	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Intrinsic Value (in thousands)
$3.21-$6.89	472,028	3.62	$	5.04	$	8,171
$7.13-$8.17	56,175	6.92	7.25		848
$8.65-$19.27	196,298	6.79	8.76		2,668
Total	724,501	4.73	$	6.22	$	11,687

The following is a summary of stock options vested and exercisable as of June 30, 2013:



Range of Exercise Prices	Number of Shares	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Intrinsic Value (in thousands)
$3.21-$4.31	116,100	2.51	$	3.65	$	1,282
$4.53-$5.77	330,975	4.86	4.79		3,281
$6.09-$8.65	284,367	7.96	7.64		2,007
Total	731,442	5.70	$	5.72	$	6,570

Summary of Stock Option Activity

A summary of option activity under the plans is as follows:



Options	Shares		Weighted Average Exercise Price
Outstanding at December 31, 2013	1,398,080		$	7.23
Granted	21,000		19.06
Exercised	(91,455	)	6.91
Forfeited or Expired	(30,750	)	12.07
Outstanding at June 30, 2014	1,296,875		$	7.33
Exercisable at June 30, 2014	724,501		$	6.22

Summary of Unvested Restricted Stock Awards

A summary of the unvested restricted stock awards is as follows:




Restricted stock	Shares		Weighted Average Grant Date Fair Value
Unvested at December 31, 2013	236,031		$	12.77
Granted	162,878		18.63
Vested	(44,472	)	10.12
Forfeited	(10,163	)	16.76
Unvested at June 30, 2014	344,274		$	15.77

Summary of Grant Date Fair Value of Awards During Period

A summary of share-based compensation is as follows:



	Three months ended				Six months ended
	June 30, 2014		June 30, 2013		June 30, 2014		June 30, 2013
Grant date fair value of awards during the period:	(in thousands)
Options	$	68	$	121	$	188	$	272
Restricted stock	2,765		524		3,035		649
Total	$	2,833	$	645	$	3,223	$	921

Summary of Share-Based Compensation Expense



Share-based compensation expense:
Options	$	312	$	182	$	520	$	461
Restricted stock	260		121		464		234
Total	$	572	$	303	$	984	$	695

Summary of Income Tax Benefit Related to Share-Based Compensation



Income tax benefit related to share-based compensation:
Options	$	160	$	183	$	484	$	292
Restricted stock	164		93		196		93
Total	$	324	$	276	$	680	$	385