Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2013

A summary of the restricted share awards for the year ended December 31, 2013 is as follows:


	Restricted Share Awards
	Performance and Service Required			Service Required			Total Restricted Awards			Weighted-Average Grant-Date Fair Value
Nonvested as of January 1, 2013		103,221			11,363			114,584		$	48.33
Granted		47,832			5,614			53,446			70.27
Vested		(61,594	)		(6,775	)		(68,369	)		39.92

Nonvested as of December 31, 2013		89,459			10,202			99,661		$	65.86

Weighted-Average Assumptions for Estimating Fair Values

The fair values for the stock options granted in 2013, 2012 and 2011 were estimated at the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:


	2012			2011
Risk-free interest rate		1.3	%		1.4	%
Dividend yield		1.9	%		1.9	%
Expected life (years)		6			6
Expected volatility		47.0	%		47.1	%

Long Term Incentive Plan [Member]

Activity in Company's Plan

Activity in the Company’s LTIP plan for the year ended December 31, 2013 was as follows:


	Number of Shares			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at January 1, 2013		33,750		$	50.21
Exercised		(14,250	)	$	45.11
Forfeited		(2,500	)	$	52.21

Outstanding (vested and expected to vest) at December 31, 2013		17,000		$	54.20		8.1	$	322

Exercisable at December 31, 2013		10,625		$	53.49		7.9	$	209

Stock Options [Member]

Activity in Company's Plan

Activity in the Company’s 1999 Stock Option Plan for the year ended December 31, 2013 was as follows:


	Number of Shares			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at January 1, 2013		32,150		$	40.93
Exercised		(19,150	)	$	41.59

Outstanding (exercisable and vested) at December 31, 2013		13,000		$	39.95		3.6	$	432

Exercisable at December 31, 2013		13,000		$	39.95		3.6	$	432