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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2012
Schedule of Stock Option Activity

The following table summarizes the stock option activity for the year ended December 31, 2012:

 

Stock Options

   Shares     Weighted
Average
Exercise

Price
     Weighted
Average
Remaining
Contractual
Life
     Aggregate
Intrinsic
Value
 

Outstanding at January 1, 2012

     53,600      $ 2.09         1.29       $ 1,625,995   

Options exercised

     (37,100   $ 1.91         

Options forfeited

     —        $ —           

Outstanding at December 31, 2012

     16,500      $ 2.51         0.57       $ 513,004   

Exercisable at December 31, 2012

     16,500      $ 2.51         0.57       $ 513,004   
Schedule of Options Outstanding

The following table summarizes information about options outstanding as of December 31, 2012:

 

Options Outstanding and Exercisable

 

Range of

Exercise Prices

   Number
of Shares
     Weighted Avg.
Remaining
Contractual Life
     Weighted Avg.
Exercise Price
 

$ 1.22 to $ 1.22

     1,500         0.18       $ 1.22   

$ 1.22 to $ 2.64

     15,000         0.61       $ 2.64   
  

 

 

    

 

 

    

 

 

 

$ 1.22 to $ 2.64

     16,500         0.57       $ 2.51   
  

 

 

       
Schedule of Non-Vested Restricted Stock Activity

The following table summarizes the non-vested restricted stock activity for the year ended December 31, 2012:

 

Non-vested restricted stock

   Shares     Weighted
Average
Grant Date
Fair Value
 

Non-vested January 1, 2012

     577,609      $ 30.30   

Granted

     296,017      $ 32.62   

Vested

     (164,011   $ 29.23   

Forfeited

     (22,837   $ 31.86   
  

 

 

   

 

 

 

Non-vested at December 31, 2012

     686,778      $ 31.50   
  

 

 

   

 

 

 
Schedule of Restricted Stock Granted

The following table summarizes the restricted stock granted during the respective years:

 

Restricted stock grants

   2012      2011      2010  

Employees

     276,017         246,284         228,094   

Outside directors

     20,000         12,000         12,000   
  

 

 

    

 

 

    

 

 

 

Total

     296,017         258,284         240,094   
  

 

 

    

 

 

    

 

 

 

Weighted average grant date fair value

   $ 32.62       $ 35.27       $ 27.36   

Vesting period

     3-5 years         3-5 years         3-5 years