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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2013
Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity follows:

 

     2013     2012  
     Shares     Fair Market
Value at
Date of
Grant
    Shares     Fair Market
Value at
Date of
Grant
 

(Dollars in thousands)

        

Restricted stock at January 1

     1,771,664      $ 41,522        1,817,745      $ 40,655   

Vested

     (111,646     (2,957     (70,206     (2,007

Cancellations

     (16,030     (365     (2,940     (60
  

 

 

   

 

 

   

 

 

   

 

 

 

Restricted stock at March 31

     1,643,988      $ 38,200        1,744,599      $ 38,588   
  

 

 

   

 

 

   

 

 

   

 

 

 
Compensation Expense for Restricted Stock Recognized in Condensed Consolidated Statements of Income

Compensation expense for restricted stock recognized in the condensed consolidated statements of income for the three-month periods ended March 31, 2013 and 2012 was as follows:

 

     Three Months Ended
March 31,
 
     2013     2012  

(In thousands)

    

Impact on income before income taxes

   $ (3,637   $ (2,594

Income tax benefit

     1,413        1,009   
  

 

 

   

 

 

 

Impact on net income

   $ (2,224   $ (1,585