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Stock Based Compensation (Tables)
9 Months Ended
Sep. 30, 2012
Stock Based Compensation  
Summary of the activity of the incentive plans

 

 

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

Restricted share grants

 

 

 

109,450

 

74,040

 

Average per share grant price

 

 

 

$

16.77

 

$

16.19

 

Deferred compensation to be recognized over vesting period

 

 

 

$

1,835,000

 

$

1,199,000

 

 

 

 

 

 

 

 

 

 

 

Non-vested shares:

 

 

 

 

 

 

 

 

 

Non-vested beginning of period

 

408,510

 

348,385

 

348,385

 

320,940

 

Grants

 

 

 

109,450

 

74,040

 

Vested during period

 

 

 

(49,325

)

(46,450

)

Forfeitures

 

(1,050

)

 

(1,050

)

(145

)

Non-vested end of period

 

407,460

 

348,385

 

407,460

 

348,385

 

 

 

 

 

 

 

 

 

 

 

Average per share value of non-vested shares (based on grant price)

 

$

12.59

 

$

12.96

 

$

12.59

 

$

12.96

 

 

 

 

 

 

 

 

 

 

 

Value of shares vested during the period (based on grant price)

 

$

 

$

 

$

1,208,000

 

$

960,000

 

 

 

 

 

 

 

 

 

 

 

Total charge to operations:

 

 

 

 

 

 

 

 

 

Outstanding restricted stock grants

 

$

250,000

 

$

227,000

 

$

792,000

 

$

703,000

 

Outstanding restricted stock units

 

73,000

 

22,000

 

117,000

 

67,000

 

 

 

$

323,000

 

$

249,000

 

$

909,000

 

$

770,000