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Stockholder's Equity
 9 Months Ended
Sep. 30, 2012
Stockholders' Equity [Abstract]  
Stockholders' Equity
7. Stockholders’ Equity

Changes in stockholders’ equity for the nine months ended September 30, 2012 were as follows:

 

         
    Total Equity  
    Attributable to  
($ in thousands)   Shareholders  

Balance at December 31, 2011

   $ 183,155  

Net income

     25,459  

Net unrealized gains on available-for-sale securities, net of tax

     (54 ) 

Conversion of Series B preferred shares

     35,217  

Treasury stock repurchases

     (3,059 ) 

Issuance of common stock related to stock transactions

     2,339  

Taxes paid related to net share settlement of restricted stock units

     (11,280 ) 

Stock-based compensation

     4,920  
   

 

 

  

Balance at September 30, 2012

   $ 236,697  
   

 

 

  

Treasury Stock

During the three and nine months ended September 30, 2012, pursuant to the Company’s share repurchase program, the Company repurchased 35,000 common shares at a weighted average price of $87.41 per share for a total cost of approximately $3.1 million. During the three and nine months ended September 30, 2011, the Company repurchased 50,000 and 135,000 common shares, respectively, at weighted-average prices per share of $60.94 and $58.24, respectively, under the Company’s share repurchase program. The total cost of treasury shares acquired by the Company during the three and nine months ended September 30, 2011 was approximately $3.1 million and $7.9 million, respectively. At September 30, 2012, there were 160,000 shares of common stock remaining authorized for repurchase under the share repurchase program.