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Equity-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2013
Pre-tax Compensation Expense and Excess Tax Benefit Recognized in Earnings

The following table presents the pre-tax compensation expense and excess tax benefit recognized in earnings for all equity-based compensation plans in the periods indicated:

 

     Year Ended December 31,  
(Amounts in thousands)    2013      2012      2011  

Pre-tax compensation expense

   $ 574       $ 206       $ 98   

Excess tax benefit

     9         6         5   
Assumptions Used to Estimate Fair Values of Stock Options

The following table presents the assumptions used to estimate the fair values of stock options at the date of grant in the periods indicated. No stock options were granted in 2013 or 2012.

 

     Year Ended December 31,  
     2013      2012      2011  

Expected volatility

     —           —           27.96

Expected term (in years)

     —           —           6.18   

Risk-free interest rate

     —           —           1.50

Expected dividend yield

     —           —           3.24

Weighted average fair value of options granted (per share)

   $ —           —         $ 2.56   
Stock Option Activity

The following table presents stock option activity under the equity-based compensation plans in the period indicated:

 

(Amounts in thousands,

except share and per share data)

   Option
Shares
     Weighted Average
Exercise  Price

Per Share
     Weighted Average
Remaining Contractual
Term (Years)
     Aggregate
Intrinsic
Value
 
           

Outstanding, January 1, 2013

     471,880       $ 20.87         

Granted

     —           —           

Exercised

     5,850         13.01         

Canceled

     91,201         22.98         
  

 

 

    

 

 

       

Outstanding, December 31, 2013

     374,829       $ 20.48         5.4       $ 529   
  

 

 

    

 

 

    

 

 

    

 

 

 

Exercisable, December 31, 2013

     301,369       $ 22.53         4.8       $ 191   
  

 

 

    

 

 

    

 

 

    

 

 

 
Restricted Stock Activity

The following table presents restricted stock activity under the equity-based compensation plans in the period indicated:

 

     Shares      Weighted Average
Grant-Date
Fair  Value
 

Nonvested, January 1, 2013

     18,950       $ 12.67   

Granted

     2,700         16.24   

Vested

     6,050         13.23   

Canceled

     13,000         12.68   
  

 

 

    

 

 

 

Nonvested, December 31, 2013

     2,600       $ 15.09   
  

 

 

    

 

 

 
Performance Stock Activity

The following table presents performance stock activity under the 2012 Plan in the period indicated:

 

     Shares      Weighted Average
Grant-Date

Fair Value
 

Nonvested, January 1, 2013

     —         $ —     

Granted

     80,872         15.75   

Vested

     39,084         15.75   

Canceled

     4,854         15.56   
  

 

 

    

 

 

 

Nonvested, December 31, 2013

     36,934       $ 15.78