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Stock-Based Compensation
 6 Months Ended
Jun. 30, 2011
Stock Based Compensation [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
Stock-Based Compensation
 
The Company has granted options to purchase its common stock to certain employees and directors of the Company and its affiliates under various stock option plans at no less than the fair market value of the underlying stock on the date of grant.  These options are granted for a term not exceeding ten years and are forfeited in the event the employee or director terminates his or her employment or relationship with the Company or one of its affiliates other than by retirement, based on certain criteria.  These options generally vest over five years.  All option plans contain anti-dilutive provisions that permit an adjustment of the number of shares of the Company’s common stock represented by each option for any change in capitalization.
 
The Company’s stock-based compensation expense was $424,000 and $153,000 for the three months ended June 30, 2011 and 2010 respectively and $564,000 and $341,000 for the six months ended June 30, 2011 and 2010 respectively.
 
Qualified Options
 
Following is a summary of activity in the Incentive Stock Option Plans for the period indicated:
 
For six months ending June 30, 2011
 
 
 
 
Shares
 
Exercise
Price*
Options outstanding at beginning of year
360,130


 
 
Granted
35,000


 
$
26.45


Exercised
(13,050
)
 
$
12.14


Cancelled
(2,000
)
 
$
24.69


 
 
 
 
Options outstanding at June 30, 2011
380,080


 
$
19.22


Options exercisable at June 30, 2011
245,780


 
$
19.24


Options available for grant at June 30, 2011
162,500


 
 
*Weighted Averages
 
Options outstanding and exercisable at June 30, 2011 were as follows:
 
Qualified Stock Options
Options Outstanding
 
Options Exercisable
 
 
 
Shares


Remaining
Contractual
Life(yrs)*
 
Exercise
Price*
 
 
 
Shares


 
 
Exercise
Price*
Range of Exercise Price
 


 
 


 
 


 
 


$11.45 - $17.85
140,080


5.97
$
12.25


 
81,580


 
$
12.83


$19.79 - $26.45
240,000


6.35
$
23.29


 
164,200


 
$
22.42


Total
380,080


 
 


 
245,780


 
 


*Weighted Averages
 


Non-qualified Options
 
Following is a summary of activity in the Non-Qualified Stock Option Plans for the period indicated:
 
For six months ending June 30, 2011
 
 
 
 
Shares
 
Exercise
Price*
Options outstanding at beginning of year
102,400


 
 
Granted
30,000


 
$
26.45


Exercised
(13,000
)
 
$
11.45


Cancelled
(5,000
)
 
$
25.18


 
 
 
 
Options outstanding at June 30, 2011
114,400


 
$
18.52


Options exercisable at June 30, 2011
38,500


 
$
19.16


Options available for grant at June 30, 2011
322,000


 
 
*Weighted Averages
  
Options outstanding and exercisable at June 30, 2011 were as follows:
Non-Qualified Stock Options
Options Outstanding
 
Options Exercisable
 
 
 
Shares
Remaining
Contractual
Life(yrs)*
 
Exercise  
Price*   
 
 
 
Shares  
 
 
Exercise
Price*
Range of Exercise Price
 


 
 


 
 


 
 


$11.45 - $12.10
55,900


8.00
$
11.45


 
14,500


 
$
11.45


$13.96 - $19.79
6,000


4.00
$
19.79


 
6,000


 
$
19.79


$25.02 - $26.45
52,500


8.24
$
25.90


 
18,000


 
$
25.16


Total
114,400


 
 


 
38,500


 
 


*Weighted Averages
 
Restricted Stock Units
 
Following is a summary of activity in the Restricted Stock Units for the periods indicated:
 
For six months ending June 30, 2011
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
 
 
 
Price
 
Weighted- average remaining
contractual term (in years)
Options outstanding at beginning of year
9,000


 
$
15.86


 
 
2.33


 
Granted
12,000


 
$
26.45


 
 
—
 
Vested
(2,750
)
 
$
15.06


 
 
—
 
Forfeited or Cancelled
—


 
$
—


 
 
—
 
Options outstanding at June 30, 2011
18,250


 
$
22.95


 
 
3.44