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EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2012

Compensation and Retirement Disclosure

Schedule of funded status of the retirement income plan

December 31,		2012				2011
(in thousands)
ACCUMULATED BENEFIT OBLIGATION, END OF YEAR		$	5,695			$	5,292
CHANGE IN PROJECTED BENEFIT OBLIGATION:
Benefit obligation at beginning of year		$	5,292			$	4,986
Service cost			—				—
Interest cost			253				267
Actuarial loss			379				266
Benefits paid			(229	)			(228	)
Projected benefit obligation at end of year		$	5,695			$	5,291
CHANGE IN PLAN ASSETS:
Fair value of plan assets at beginning of year		$	4,313			$	4,672
Actual return on plan assets			484				(231	)
Employer contributions			714				100
Benefits paid			(229	)			(228	)
Fair value of plan assets at end of year		$	5,282			$	4,313
Funded status at end of year		$	(413	)		$	(978	)

December 31,		2012				2011
(in thousands)
AMOUNTS RECOGNIZED IN THE CONSOLIDATED BALANCE SHEETS CONSIST OF:
Noncurrent assets		$	—			$	—
Current liabilities			—				—
Noncurrent liabilities			(413	)			(978	)
		$	(413	)		$	(978	)

The funded status of the Retirement Income Plan was recorded in the consolidated balance sheets in long-term pension liabilities as of December 31, 2012 and 2011.

December 31,		2012				2011
(in thousands)
AMOUNTS (PRE-TAX) RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) CONSIST OF:
Net loss		$	2,748			$	2,585
Prior service cost (credit)			—				—
Net transition obligation (asset)			—				—
		$	2,748			$	2,585

Schedule of amounts recorded in the consolidated balance sheet

December 31,		2012				2011
(in thousands)
SERP liability		$	(5,819	)		$	(5,337	)
Funded status			(413	)			(978	)
Pension liabilities		$	(6,232	)		$	(6,315	)

Schedule of net periodic benefit cost

Years ended December 31,		2012				2011				2010
(in thousands)
Service cost for benefits earned during the period		$	—			$	—			$	—
Interest cost on projected benefit obligation			253				267				266
Expected return on plan assets			(328	)			(324	)			(302	)
Amortization of net loss			61				38				34
		$	(14	)		$	(19	)		$	(2	)

Schedule of amounts recognized in other comprehensive loss

(in thousands)		2012				2011				2010
Net loss		$	224			$	820			$	56
Amortization of net loss			(61	)			(38	)			(34	)
Net transition obligation (asset)			—				—				—
Amount recognized in accumulated other comprehensive income		$	163			$	782			$	22

Schedule of components of net periodic benefit

(in thousands)		2013
Amortization of net loss (gain)		$	73
Prior service cost (credit)			—
Net transition obligation (asset)			—
Estimated net periodic cost		$	73

Schedule of weighted average assumptions

December 31,		2012				2011				2010
PROJECTED BENEFIT OBLIGATION:
Discount rate			4.34	%			5.09	%			5.58	%
Rate of compensation increase			N/A				N/A				N/A
NET BENEFIT COST:
Discount rate			5.09	%			5.58	%			6.05	%
Expected return on plan assets			7.00	%			7.00	%			7.00	%
Rate of compensation increase			N/A				N/A				N/A

Schedule of allocation of plan assets

Asset Category		Target Allocation for 2013			Percentage of Plan Assets as of December 31, 2012		Percentage of Plan Assets as of December 31, 2011
Cash and Cash Equivalents			0% - 5%		0.2	%	0.7	%
Debt Securities – Core Fixed Income			15% - 50%		20.2		23.2
Tactical – Fund of Equity and Debt Securities			10% - 20%		15.1		16.3
Domestic Equity Securities			30% - 50%		15.2		15.2
Global Equity Securities			10% - 20%		15.1		14.8
International Equity Securities			10% - 20%		16.0		14.6
Real Estate			0% - 10%		9.2		5.6
Real Return			0% - 10%		9.0		9.6
Other			0% - 5%		0.0		0.0
Total			100.0%		100.0	%	100.0	%

Schedule of level three defined benefit plan assets

Fair Value Hierarchy as of December 31, 2012:
Investments (in thousands)					Total				Level 1				Level 2				Level 3
Cash and Cash Equivalents			(1	)		$	11			$	11			$	—			$	—
Fixed Income Securities			(2	)			1,065				—				1,065				—
Domestic Equity Securities							801				801				—				—
Global Equity Securities			(3	)			796				796				—				—
International Equity Securities			(3	)			848				395				453				—
Real Estate			(4	)			489				—				—				489
Real Return			(5	)			475				—				475				—
Tactical Composite			(6	)			797				—				797				—
						$	5,282			$	2,003			$	2,790			$	489
Fair Value Hierarchy as of December 31, 2011:
Investments (in thousands)					Total				Level 1				Level 2				Level 3
Cash and Cash Equivalents			(1	)		$	32			$	32			$	—			$	—
Fixed Income Securities			(2	)			1,000				—				1,000				—
Domestic Equity Securities							659				656				—				—
Global Equity Securities			(3	)			636				636				—				—
International Equity Securities			(3	)			631				298				333				—
Real Estate			(4	)			238				—				—				238
Real Return			(5	)			415				—				415				—
Tactical Composite			(6	)			702				—				702				—
						$	4,313			$	1,622			$	2,450			$	238

(1) Cash and cash equivalents, which are used to pay benefits and plan administrative expenses, are held in Rule 2a-7 money market funds.

(2) Fixed income securities are primarily valued using a market approach with inputs that include broker quotes, benchmark yields, base spreads and reported trades.

(3) Global equity securities and certain international securities are valued using a market approach based on the quoted market prices of similar instruments in their respective markets.

(4) Real estate fund values are primarily reported by the fund manager and are based on valuation of the underlying investments, which include inputs such as cost, discounted future cash flows, independent appraisals and market based comparable data.

(5) Real return funds invest in global equities, commodities and inflation protected core bonds that are valued primarily using a market approach based on the quoted market prices of identical instruments in their respective markets.

(6) Tactical composite funds invest in stocks, bonds and cash, both domestic and international. These assets are valued primarily using a market approach based on the quoted market prices of identical instruments in their respective markets.

Schedule of reconciliation of level 3 assets

The following table presents a reconciliation of Level 3 assets held during the year ended December 31, 2012:

Investments	Balance at December 31, 2011				Net Realized and Unrealized  Gains/(Losses)				Net Purchases, Issuances and Settlements				Net Transfers In to (Out of) Level 3				Balance at December 31, 2012
(in thousands)
Real Estate		$	238			$	65			$	186			$	—			$	489
		$	238			$	65			$	186			$	—			$	489

The following table presents a reconciliation of Level 3 assets held during the year ended December 31, 2011:

Investments		Balance at December 31, 2010				Net Realized and Unrealized  Gains/(Losses)				Net Purchases, Issuances and Settlements				Net Transfers In to (Out of) Level 3				Balance at December 31, 2011
(in thousands)
Real Estate		$	213			$	25			$	—			$	—			$	238
Alternative Investments			49				—				(49	)			—				—
		$	262			$	25			$	(49	)		$	—			$	238

Schedule of future benefits payable for the retirement income plan over the next ten years

(in thousands)
2013		$	253
2014			257
2015			270
2016			280
2017			259
2018-2022			1,323

Schedule of stock option

		Shares		Weighted Average Exercise Price			Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
Outstanding at January 1, 2012		564,735		$	4.08		0.6 years
Granted		—			—		N/A
Exercised		(410,293	)		3.14		N/A
Forfeited		—			—		N/A
Expired		(9,827	)		2.67		N/A
Outstanding and exercisable at December 31, 2012		144,615		$	6.82		0.44 years		$	N/A

Schedule of summary of the changes in non-vested restricted shares

		Shares				Weighted Average Grant-Date Fair Value
Non-vested shares at January 1, 2012			971,000			$	6.16
Granted			362,000				5.59
Vested			(194,300	)			6.49
Forfeited			(6,200	)			6.56
Non-vested shares at December 31, 2012			1,132,500			$	5.92

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