Restricted Stock

3 Months Ended

Mar. 31, 2013

Restricted Stock [Abstract]

Restricted Stock

(8) Restricted Stock:

The Company grants shares of class B restricted stock to the Company's outside directors as their annual retainer compensation.  The shares are distributed on the vesting date, one year following the date of grant, and had a total value of $440 for each of the annual periods presented.  The table below provides detail of the stock issuances for 2011 and 2012:

Effective	Number of Shares		Vesting	Service	Value
Date	Issued		Date	Period	Per Share
5/10/2011		19,558	5/10/2012	7/1/2011 - 6/30/2012	$	22.50
5/8/2012		20,119	5/8/2013	7/1/2012 - 6/30/2013	$	21.87

Compensation expense related to the above stock grant is recognized over the period in which the directors render the services.

Effective February 4, 2013, the Company issued 52,389 shares of class B restricted stock to certain of the Company's executives.  The restricted shares were paid solely in the Company's class B stock.  The restricted shares represent a portion of compensation to certain executives under the Company's 2012 Executive Incentive Bonus Plan.  The restricted shares will vest ratably over a three year period from the date of grant and are accelerated for retirement eligible recipients due to the non-substantive post-grant date vesting clause per ASC 715, Compensation-Retirement Benefits.  Restricted stock was valued based on the closing price of the stock on the day the award was granted.  Each share was valued at $23.69 per share representing a total value of $1,241.  Non-vested restricted shares will be forfeited should an executive's employment terminate for any reason other than death, disability, or retirement as defined by the Compensation Committee.