XML 16 R39.htm IDEA: XBRL DOCUMENT v2.4.0.6
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Fair value assumptions
The fair value of each option is estimated on the date of grant using the following assumptions:
 
2012
Dividend yield
0.00%
Expected volatility
42%
Risk-free interest rate
0.71%
Expected option term
6.5 years
Stock option activity
(Dollars in thousands, except per share amounts)
 
Shares
 
Weighted 
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term (Years)
 
Aggregate
Intrinsic Value
 
 
 
 
 
 
 
 
 
Options outstanding at January 1, 2012
 
511,019

 
 

 
 
 
 

Options granted
 
92,150

 
$
8.03

 
 
 
 
Options exercised
 
(69,030
)
 
$
5.59

 
 
 
 

Options forfeited
 
(34,850
)
 
$
9.91

 
 
 
 

Options outstanding at December 31, 2012
 
499,289

 
$
8.78

 
4.61
 
$
284

Options vested or expected to vest at December 31, 2012
 
491,705

 
$
8.80

 
4.55
 
$
186

Options exercisable at December 31, 2012
 
358,279

 
$
9.40

 
2.91
 
$
181

 
Information related to the stock option plan during each year follows:
(In thousands, except per share amounts)
 
2012
 
2011
 
2010
Weighted-average per share grant-date fair value of options granted
 
$
3.40

 
$

 
$
2.58

Intrinsic value of options exercised
 
$
93

 
$
417

 
$
349

Cash received from options exercised
 
$
385

 
$
680

 
$
550

Excess tax benefit realized for option exercises
 
$
26

 
$
116

 
$
28