XML 137 R49.htm IDEA: XBRL DOCUMENT v2.4.0.8
Cash and stock-based compensation plans (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
Disclosure of vesting of restricted stock [Table Text Block]
Restricted stock vest on the grant’s date anniversary, as follows:
 
 
Year of Grant
 
 
 
2013
 
35% in the first and second year, 30% in the third year
 
2012
 
25% each year
 
2011
 
20% each year
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]
A summary of the restricted stock granted to Directors is presented below:
 
 
 
 
 
 
Weighted average
 
 
 
 
 
 
 grant date fair
 
 
 
Shares
 
 
 value
 
Outstanding at January 1, 2011
 
88,027
 
$
13.07
 
Granted
 
25,541
 
 
18.07
 
Vested
 
(31,563)
 
 
13.14
 
Outstanding at December 31, 2011
 
82,005
 
 
14.59
 
Granted
 
32,317
 
 
22.09
 
Vested
 
(23,493)
 
 
14.35
 
Outstanding at December 31, 2012
 
90,829
 
 
17.32
 
Granted
 
28,500
 
 
25.00
 
Vested
 
(34,467)
 
 
16.84
 
Outstanding at December 31, 2013
 
84,862
 
$
20.10
 
Expected to vest
 
84,862
 
$
20.10
 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]
A summary of the status of the restricted stock units granted to certain Executives is presented below:
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
Weighted
 
average
 
 
 
 
 
 
 
 
average grant
 
remaining
 
 
Aggregate
 
 
 
 
 
date fair 
 
contractual
 
 
intrinsic value
 
 
 
Stock units
 
 value
 
term
 
 
(thousands)
 
Outstanding at January 1, 2011
 
222,710
 
$
10.96
 
 
 
 
 
 
Granted
 
94,496
 
 
15.84
 
 
 
 
 
 
Forfeited
 
(20,931)
 
 
12.63
 
 
 
 
 
 
Vested
 
(69,865)
 
 
11.09
 
 
 
 
 
 
Outstanding at December 31, 2011
 
226,410
 
 
12.80
 
 
 
 
 
 
Granted
 
181,598
 
 
17.52
 
 
 
 
 
 
Forfeited
 
(54,367)
 
 
13.88
 
 
 
 
 
 
Vested
 
(85,249)
 
 
12.31
 
 
 
 
 
 
Outstanding at December 31, 2012
 
268,392
 
 
15.93
 
 
 
 
 
 
Granted
 
114,070
 
 
18.76
 
 
 
 
 
 
Forfeited
 
(15,223)
 
 
16.81
 
 
 
 
 
 
Vested
 
(124,490)
 
 
16.08
 
 
 
$
1,067
 
Outstanding at December 31, 2013
 
242,749
 
$
17.13
 
2.30 years
 
$
2,643
 
Expected to vest
 
242,749
 
$
17.13
 
 
 
$
2,643
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The fair value of stock purchase options granted to certain Executives during 2012 and 2011 was estimated using a binomial option-pricing model, based on the following factors:
 
 
 
2013
 
 
2012
 
 
 
2011
 
Weighted average fair value per option
 
-
 
$
3.01
 
 
$
2.92
 
Weighted average expected term, in years
 
-
 
 
5.50
 
 
 
5.50
 
Expected volatility
 
-
 
 
33.35
%
 
 
30
%
Risk-free rate
 
-
 
 
0.18% a 1.34
%
 
 
2.52
%
Expected dividend
 
-
 
 
5.30
%
 
 
4.50
%
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
A summary of stock options granted is presented below:
 
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
 
 
 
 average
 
Aggregate
 
 
 
 
 
Weighted
 
 remaining
 
 intrinsic
 
 
 
 
 
 average
 
 contractual
 
 value
 
 
 
Options
 
 exercise price
 
 term
 
 (thousands)
 
Outstanding at January 1, 2011
 
1,142,019
 
$
12.39
 
 
 
 
 
 
Granted
 
72,053
 
 
17.81
 
 
 
 
 
 
Forfeited
 
(58,067)
 
 
12.16
 
 
 
 
 
 
Exercised
 
(240,439)
 
 
12.27
 
 
 
 
 
 
Outstanding at December 31, 2011
 
915,566
 
 
12.87
 
 
 
 
 
 
Granted
 
182,420
 
 
18.93
 
 
 
 
 
 
Forfeited
 
(231,639)
 
 
15.82
 
 
 
 
 
 
Exercised
 
(442,675)
 
 
12.90
 
 
 
 
 
 
Outstanding at December 31, 2012
 
423,672
 
 
13.83
 
 
 
 
 
 
Granted
 
-
 
 
-
 
 
 
 
 
 
Forfeited
 
(9,780)
 
 
18.18
 
 
 
 
 
 
Exercised
 
(226,147)
 
 
12.76
 
 
 
 
 
 
Outstanding at December 31, 2013
 
187,745
 
$
14.90
 
3.65 years
 
$
2,464
 
Exercisable
 
53,994
 
$
11.58
 
1.12 years
 
$
888
 
Expected to vest
 
133,751
 
$
16.24
 
4.09 years
 
$
1,576
 
Schedule Of Share-Based Compensation, Restricted Stock Granted To Directors [Table Text Block]
A summary of restricted stock granted to Directors is presented below:
 
 
 
 
 
Weighted average
 
 
 
 
grant date fair
 
 
 
Shares
 
 value
 
Non vested at January 1, 2011
 
8,917
 
$
20.77
 
Granted
 
-
 
 
-
 
Vested
 
(5,399)
 
 
20.39
 
Non vested at December 31, 2011
 
3,518
 
 
21.35
 
Granted
 
-
 
 
-
 
Vested
 
(3,518)
 
$
21.35
 
Non vested at December 31, 2012
 
-
 
$
-
 
Share Options Granted To Directors and Certain Executives and Changes [Table Text Block]
A summary of the share options granted to Directors and certain Executives is presented below:
 
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
 
 
 
average
 
 
 
 
 
 
 
 
 
 
 
remaining
 
 
Aggregate
 
 
 
 
 
 
Weighted average
 
contractual
 
 
intrinsic value
 
 
 
Options
 
 
 exercise price
 
term
 
 
 (thousands)
 
Outstanding at January 1, 2011
 
207,706
 
$
16.34
 
 
 
 
 
 
Forfeited
 
-
 
 
-
 
 
 
 
 
 
Exercised
 
(27,552)
 
 
16.34
 
 
 
 
 
 
Outstanding at December 31, 2011
 
180,154
 
 
16.34
 
 
 
 
 
 
Forfeited
 
-
 
 
-
 
 
 
 
 
 
Exercised
 
(130,350)
 
 
16.34
 
 
 
 
 
 
Outstanding at December 31, 2012
 
49,804
 
 
16.34
 
 
 
 
 
 
Forfeited
 
-
 
 
-
 
 
 
 
 
 
Exercised
 
(49,804)
 
 
16.34
 
 
 
 
 
 
Outstanding at December 31, 2013
 
-
 
$
-
 
-
 
$
-
 
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity [Table Text Block]
A summary of the indexed stock purchase options is presented below:
 
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
 
 
 
average
 
 
 
 
 
 
 
 
 
 
 
remaining
 
Aggregate
 
 
 
 
 
Weighted average
 
contractual
 
intrinsic value
 
 
 
Options
 
exercise price
 
term
 
  (thousands)
 
Outstanding at January 1, 2011
 
385,469
 
$
17.98
 
 
 
 
 
 
Forfeited
 
-
 
 
-
 
 
 
 
 
 
Expired
 
(4,100)
 
 
11.87
 
 
 
 
 
 
Exercised
 
(55,433)
 
 
12.12
 
 
 
 
 
 
Outstanding at December 31, 2011
 
325,936
 
 
12.86
 
 
 
 
 
 
Forfeited
 
-
 
 
-
 
 
 
 
 
 
Expired
 
(3,542)
 
 
14.48
 
 
 
 
 
 
Exercised
 
(322,394)
 
 
16.41
 
 
 
 
 
 
Outstanding at December 31, 2012
 
-
 
$
-
 
-
 
$
-
 
Schedule Of Deferred Compensation Plan [Table Text Block]
A summary on changes is presented below:
 
 
 
2013
 
2012
 
2011
 
Outstanding at beginning of year
 
534
 
1,812
 
17,746
 
Exercised
 
(534)
 
(1,278)
 
(15,934)
 
Outstanding at end of year
 
-
 
534
 
1,812