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Equity Based Plans (Tables)
12 Months Ended
Dec. 31, 2013
Text Block [Abstract]  
Summary of Cumulative Summary of Equity Plans

A cumulative summary of equity plans as of December 31, 2013 follows:

 

                                        Shares  
            Restricted      Outstanding      Stock Options      Stock Options      Available  

Equity Plans

   Authorized      Stock Issued      Stock Options      Exercised      Exercisable      for Grant  

Amended 1999 Plan

     600,000         360,900         8,700         131,091         8,700         99,309   

Amended 2003 Plan

     1,750,000         422,663         30,000         748,300         30,000         549,037   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
     2,350,000         783,563         38,700         879,391         38,700         648,346   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
Summary of Stock Options Granted Under the Plans

A summary of the status of the Company’s stock options granted under the plans as of December 31, 2013, 2012 and 2011 and the changes during the years then ended is presented below:

 

                 Weighted       
           Weighted     Average    Aggregate  
           Average     Remaining    Intrinsic  
     Number of     Exercise     Contractual    Value  
     Shares     Price    

Term

   (000’s)  

Outstanding at December 31, 2010

     723,890        14.30      3.6 Years   

Granted

     —          —          

Exercised

     (375,080     13.92        

Cancelled

     —          —          

Forfeited

     —          —          
  

 

 

        

Outstanding at December 31, 2011

     348,810        14.30      2.6 Years   

Granted

     —            

Exercised

     (272,750     14.12        

Cancelled

     (220     17.89        

Forfeited

     —          —          
  

 

 

        

Outstanding at December 31, 2012

     75,840        14.71      2.2 Years   
  

 

 

        

Granted

     —            

Exercised

     (37,140     15.25        

Cancelled

     —            

Forfeited

     —            
  

 

 

        

Outstanding at December 31, 2013

     38,700        18.36      1.6 Years   
  

 

 

        

Exercisable at December 31, 2013

     38,700        —        1.6 Years    $ 654   
  

 

 

        
Summary of Intrinsic Value of Stock Options Exercised

A summary of the intrinsic value of stock options exercised during the years ended December 31, 2013, 2012 and 2011 is as follows:

 

            Aggregate  
            Intrinsic  
     Number of      Value  
     Shares      (000’)  

2011

     375,080       $ 3,160   

2012

     272,750       $ 3,459   

2013

     37,140       $ 402   
Summary of Stock Options Outstanding

The following tables summarize information about the Company’s stock options outstanding as of December 31, 2013, 2012 and 2011, respectively:

 

    Outstanding
Options as of
December 31, 2013
   

Exercise

Price

  Weighted Average
Remaining
Contractual Life
  Exercisable  

Exercise

Price

1999 Plan

    8,700      $12.60 - $18.42   1.6 Years   8,700   $12.60 - $18.42

2003 Plan

    30,000      $18.42   1.6 Years   30,000   $18.42
 

 

 

       

 

 
    38,700      $12.60 - $18.42   1.6 Years   38,700   $12.60 - $18.42
 

 

 

       

 

 
    Outstanding
Options as of
December 31, 2012
   

Exercise

Price

  Weighted Average
Remaining
Contractual Life
  Exercisable  

Exercise

Price

1999 Plan

    15,840      $12.60 - $18.42   2.2 Years   15,840   $12.60 - $18.42

2003 Plan

    60,000      $12.51 - $18.80   2.2 Years   60,000   $12.51 - $18.80
 

 

 

       

 

 
    75,840      $12.51 - $18.80   2.2 Years   75,840   $12.51 - $18.80
 

 

 

       

 

 
    Outstanding
Options as of
December 31, 2011
   

Exercise

Price

  Weighted Average
Remaining
Contractual Life
  Exercisable  

Exercise

Price

1999 Plan

    17,310      $12.60 - $18.42   3.2 Years   17,310   $12.60 - $18.42

2003 Plan

    251,500      $12.51 - $18.80   2.9 Years   251,500   $12.51 - $18.80

Inducements

    80,000      $12.75 - $14.32   1.7 Years   80,000   $12.75 - $14.32
 

 

 

       

 

 
    348,810      $12.51 - $18.80   2.6 Years   348,810   $12.51 - $18.80
 

 

 

       

 

 
Summary of Stock Options Outstanding and Exercisable

The following table summarizes information about the Company’s stock options outstanding and those options that are exercisable as of December 31, 2013:

 

     Outstanding      Exercisable  

Exercise Prices

   Options      Options  

$12.60

     400         400   

$18.42

     38,300         38,300   
  

 

 

    

 

 

 
     38,700         38,700   
  

 

 

    

 

 

 
Summary of Restricted Stock Granted to Directors, Officers and Employees Pursuant to Its Equity Plans

During 2013, 2012 and 2011, the Company granted the following shares (net of those shares cancelled in their respective grant year due to employee terminations prior to restrictions lapsing) of restricted stock to directors, officers and employees pursuant to its equity plans as follows:

 

            Weighted  
            Average  
Year    Number of      Fair Value  

Granted

   Shares      Per Share  

2011

     156,750       $ 19.94   

2012

     80,650       $ 21.65   

2013

     174,938       $ 23.52