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SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2012
SHARE-BASED COMPENSATION.  
Summary of the effects of share-based compensation to options and awards granted under the Company's equity incentive plans

 

 

 

 

Year Ended December 31,

 

 

 

2012

 

2011

 

2010

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

Salaries and employee benefits

 

$

4,432

 

$

2,409

 

$

319

 

Directors stock awards

 

90

 

153

 

55

 

Legal and professional services

 

59

 

55

 

 

Net share-based compensation effect

 

$

4,581

 

$

2,617

 

$

374

 

Schedule of weighted-average assumptions used in estimating the fair value of the stock options granted to employees

 

 

 

 

Year Ended December 31,

 

 

 

2012

 

2011

 

2010

 

 

 

 

 

 

 

 

 

Expected volatility

 

77.2

%

%

%

Risk free interest rate

 

1.8

%

%

%

Expected dividends

 

1.0

%

%

%

Expected life (in years)

 

8.0

 

 

 

Weighted average fair value

 

$

9.65

 

$

 

$

 

Summary of option activity for stock option plans

 

 

 

 

 

 

 

 

Weighted Average

 

Aggregate

 

 

 

 

 

Weighted

 

Remaining

 

Intrinsic

 

 

 

 

 

Average

 

Contractual Term

 

Value

 

 

 

Shares

 

Exercise Price

 

(in years)

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2012

 

40,166

 

$

428.16

 

 

 

 

 

Changes during the year:

 

 

 

 

 

 

 

 

 

Granted

 

319,615

 

14.33

 

 

 

 

 

Expired

 

(8,105

)

180.49

 

 

 

 

 

Forfeited

 

(36,307

)

14.31

 

 

 

 

 

Outstanding at December 31, 2012

 

315,369

 

62.77

 

8.7

 

$

356

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest at
December 31, 2012

 

283,373

 

68.24

 

8.6

 

315

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 31, 2012

 

32,061

 

490.77

 

2.8

 

 

Schedule of activity of restricted stock awards and units

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

Grant Date

 

 

 

Shares

 

Fair Value

 

 

 

 

 

 

 

Nonvested at January 1, 2012

 

1,015,304

 

$

14.86

 

Changes during the year:

 

 

 

 

 

Granted

 

365,626

 

14.39

 

Forfeited

 

(84,073

)

14.25

 

Vested

 

(198,051

)

15.66

 

Nonvested at December 31, 2012

 

1,098,806

 

14.61

 

 

 

 

 

 

 

Vested and expected to vest at December 31, 2012

 

1,098,806

 

14.61