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Stock-Based Compensation
 9 Months Ended
Sep. 30, 2013
Stock-Based Compensation [Abstract]  
Stock-Based Compensation

Note 8 - Stock-Based Compensation

The Amended and Restated Omnibus Stock and Performance Compensation Plan (the "Omnibus Plan") permits the issuance of up to 1,500,000 shares of the Company's common stock in the form of stock options, stock appreciation rights ("SARs"), restricted stock, restricted stock units and performance awards. The Company issues shares out of treasury stock for these awards. During the nine months ended September 30, 2013, 30,185 restricted shares and 85,943 SARs were granted under the Omnibus Plan.

Restricted Stock

Restricted shares granted prior to April 16, 2013 are amortized to expense over the three-year vesting period. Beginning on April 16, 2013, restricted shares granted to Company employees are amortized to expense over the three-year vesting period whereas restricted shares granted to members of the Board of Directors are amortized to expense over a one-year service period with the exception of those shares granted in lieu of cash payment for retainer fees which are expensed in the period earned. As of September 30, 2013, the total unrecognized compensation expense related to non-vested restricted shares was $1,468,000, and the related weighted-average period over which it is expected to be recognized is approximately .89 years.

Following is a summary of the activity of the restricted stock:

    Nine Months Ended
    September 30, 2013
        Shares       Fair Value
Balance at December 31, 2012   54,875     $ 31.61
Granted   30,185     $ 42.03
Vested       (25,608 )   $ 30.48
Balance at September 30, 2013   59,452     $ 37.39

SARs
 SARs vest over a three-year period, with one-third of the shares vesting and becoming exercisable each year on the anniversary date of the grant, and they expire 10 years from the original grant date. As of September 30, 2013, the total unrecognized compensation expense was $1,147,000, and the related weighted-average period over which it is expected to be recognized is 1.4 years. Following is a summary of the activity of the Company's SARs program for the nine-month period ended September 30, 2013:

          Weighted-   Average   Aggregate
          Average   Remaining   Intrinsic
          Exercise   Contractual   Value
        Shares       Price       Term Years       (In thousands)
Outstanding at December 31, 2012   351,881     $           27.52   7.34   $                  4,988
Granted   85,943     $ 42.14          
Exercised      (76,259 )   $ 24.95          
Outstanding at September 30, 2013   361,565     $ 31.58   7.42   $ 7,877
Exercisable at September 30, 2013   184,437     $ 26.28   6.15   $ 4,997

Following is a summary of the activity of the non-vested SARs during the nine-month period ended September 30, 2013:

          Weighted-Average
        Shares       Grant Date Fair Value
Non-vested at December 31, 2012   161,294     $ 31.70
Granted   85,943     $ 42.14
Vested      (70,109 )   $ 30.85
Non-vested at September 30, 2013   177,128     $ 37.11

The Company uses the Black-Scholes pricing model to determine the fair value of the SARs at the date of grant. Following are the assumptions used to estimate the per-share fair value of SARs granted:

    Nine Months Ended September 30,
        2013       2012
Risk-free interest rate   1.29%   1.38%
Expected life   7 yrs.   7 yrs.
Expected volatility   28.72%   29.39%
Expected dividend yield   1.71%   1.84%

The risk-free interest rate is based on the zero-coupon U.S. Treasury yield for the period equal to the expected life of the SARs at the time of the grant. The expected life was derived using the historical exercise activity. The Company uses historical volatility for a period equal to the expected life of the rights using average monthly closing market prices of the Company's stock as reported on The Nasdaq Global Market. The expected dividend yield is based on the Company's current rate of annual dividends.