Share-Based Compensation (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2014 and 2013 using a Black Scholes Model:



	Nine months ended
	September 30, 2014		September 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	2.45	%	1.14	%
Expected volatility	45.56	%	45.92	%
Risk-free interest rate	2.40	%	1.40	%
Expected life (in years)	8		8

Summary of Stock Options Outstanding

The following is a summary of stock options vested and exercisable as of September 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	459,684	3.48	$	5.10	$	5,492
$7.13-$8.17	82,450	6.81	7.26		804
$8.65-$21.14	192,627	6.36	8.76		1,590
Total	734,761	4.61	$	6.30	$	7,886

The following is a summary of stock options vested and exercisable as of September 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	111,150	2.27	$	3.67	$	1,561
$4.53-$5.77	314,775	4.58	4.79		4,067
$6.09-$8.70	288,275	7.66	7.55		2,929
Total	714,200	5.46	$	5.73	$	8,557

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	1,398,090		$	7.23
Granted	34,125		19.30
Exercised	(137,006	)	6.62
Forfeited or Expired	(40,402	)	11.15
Outstanding at September 30, 2014	1,254,807		$	7.50
Exercisable at September 30, 2014	734,761		$	6.30

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	236,009		$	12.77
Granted	182,509		18.51
Vested	(55,848	)	10.03
Forfeited	(13,805	)	16.88
Unvested at September 30, 2014	348,865		$	16.05

Summary of Grant Date Fair Value of Awards During Period

A summary of share-based compensation is as follows:



	Three months ended				Nine months ended
	September 30, 2014		September 30, 2013		September 30, 2014		September 30, 2013
Grant date fair value of awards during the period:	(in thousands)
Options	$	119	$	110	$	307	$	382
Restricted stock	343		51		3,378		700
Total	$	462	$	161	$	3,685	$	1,082

Summary of Share-Based Compensation Expense



Share-based compensation expense:
Options	$	181	$	186	$	701	$	647
Restricted stock	413		173		877		407
Total	$	594	$	359	$	1,578	$	1,054

Summary of Income Tax Benefit Related to Share-Based Compensation



Income tax benefit related to share-based compensation:
Options	$	188	$	84	$	672	$	376
Restricted stock	40		33		236		126
Total	$	228	$	117	$	908	$	502