Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2013

Stock Based Compensation [Abstract]

Share-Based Compensation, Granted

	Three Months Ended
	March 31, 2013				March 31, 2012
			Weighted				Weighted
			Average				Average
			Fair Value				Fair Value
	Grant		Per Share		Grant		Per Share
Board restricted stock		1,250	$	10.00		-	$	-
Total shares		1,250				-

Stock Options Activity

A summary of stock option activity as of March 31, 2013 and changes during the three months then ended is presented below: 

					Weighted
			Weighted		Average
			Average		Remaining		Aggregate
	Number of		Exercise		Contractual		Grant Date
Stock Options	Shares		Price		Term		Fair Value
Outstanding at January 1, 2013		292,267	$	10.13
Granted		-		-
Exercised		-		-
Expired/Forfeited		(15,000)	$	13.86
Outstanding at March 31, 2013		277,267	$	9.93		5.4 Years	$	2,753,697
Exercisable at March 31, 2013		257,142	$	10.06		5.3 Years	$	2,587,062

A summary of stock option activity as of March 31, 2012 and changes during the three months then ended is presented below: 

					Weighted
			Weighted		Average
			Average		Remaining		Aggregate
	Number of		Exercise		Contractual		Grant Date
Stock Options	Shares		Price		Term		Fair Value
Outstanding at January 1, 2012		318,002	$	9.21
Granted		-		-
Exercised		(8,750)	$	6.86
Expired/Forfeited		-		-
Outstanding at March 31, 2012		309,252	$	9.97		6.1 Years	$	3,083,652
Exercisable at March 31, 2012		236,190	$	10.32		5.5 Years	$	2,437,555

Stock Appreciation Rights Valuation Assumptions

	March 31, 2013
Expected dividend yield		0.00	%
Expected weighted-average volatility		47.9	%
Risk-free interest rate		1.77	%
Expected term of SARs (in years)		9.75

Stock Appreciation Rights Award Activity

	SARs		Fair Value (*)
Non-vested SARs at December 31, 2012		150,000	$	5.24
Granted		—		—
Vested		(15,000)	$	5.03
Cancellations		—		—
Non-vested SARs at March 31, 2013		135,000	$	5.03

*  Weighted-average