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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2013
Stock-Based Compensation [Abstract]  
Stock Options Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

2012

 

 

 

 

Weighted

 

 

 

Weighted

 

 

 

 

Average

 

 

 

Average

 

 

Number of

 

Exercise

 

Number of

 

Exercise

 

 

Shares

 

Price

 

Shares

 

Price

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at beginning of year

 

 

292,267 

 

$

10.13 

 

 

318,002 

 

$

9.89 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Exercised

 

 

(5,515)

 

 

7.14 

 

 

(24,985)

 

 

7.09 

Expired/Forfeited

 

 

(15,000)

 

 

13.86 

 

 

(750)

 

 

6.76 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at end of year

 

 

271,752 

 

$

9.99 

 

 

292,267 

 

$

10.13 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable at end of year

 

 

271,752 

 

$

9.99 

 

 

272,142 

 

$

10.27 

 

Stock Options By Exercise Price Range

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

Remaining

 

 

Average

 

 

 

 

 

 

 

 

Options

 

Contractual

 

 

Exercise

 

Options

 

Weighted Average

Range of Exercise Price

 

Outstanding

 

Life in Years

 

 

Price

 

Exercisable

 

Exercise Price

$

5.00 - 7.50

 

89,502 

 

5.6 

 

$

6.23 

 

89,502 

 

$

6.23 

$

7.51 - 11.25

 

77,750 

 

6.3 

 

$

8.34 

 

77,750 

 

$

8.33 

$

11.26 - 16.50

 

75,000 

 

4.0 

 

$

13.45 

 

75,000 

 

$

13.45 

$

16.51 - 17.25

 

29,500 

 

0.9 

 

$

16.94 

 

29,500 

 

$

16.94 

 

Total

 

271,752 

 

4.9 

 

$

9.99 

 

271,752 

 

$

9.99 

 

Share-Based Compensation, Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

2012

 

 

 

 

 

Weighted

 

 

 

 

Weighted

 

 

 

 

 

Average

 

 

 

 

Average

 

 

 

 

 

Fair Value

 

 

 

 

Fair Value

 

 

Grant

 

Per Share

 

Grant

 

Per Share

 

 

 

 

 

 

 

 

 

 

 

 

 

Board restricted stock

 

 

18,290 

 

$

10.52 

 

 

11,820 

 

$

12.69 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total shares

 

 

18,290 

 

 

 

 

 

11,820 

 

 

 

 

Stock Appreciation Rights Valuation Assumptions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

 

2012

 

Expected dividend yield

 

 

0.00 

%

 

0.00 

%

Expected weighted-average volatility

 

 

49.5 

%

 

47.8 

%

Risk-free interest rate

 

 

2.84 

%

 

1.65 

%

Expected term of SARs (in years)

 

 

9.00 

 

 

10.25 

 

 

Stock Appreciation Rights Award Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SARs

 

Weighted Average Fair Value

Non-vested SARs at December 31, 2011

 

 

 

$

Granted

 

 

165,000 

 

 

4.72 

Vested

 

 

(16,500)

 

 

4.72 

Cancellations

 

 

 

 

Non-vested SARs at December 31, 2012

 

 

148,500 

 

$

5.24 

Granted

 

 

 

 

Vested

 

 

(16,500)

 

 

5.03 

Cancellations

 

 

 

 

Non-vested SARs at December 31, 2013

 

 

132,000 

 

$

5.41