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Stock Options (Tables)

12 Months Ended

Dec. 31, 2013

Summary of Option Activity

Option activity within each plan is as follows:

		Incentive Stock Option Plans				Non-Statutory Stock Options Plans				Weighted Average Price Per Share				Exercisable Weighted Average Price Per Share
Balance outstanding, December 31, 2010			1,487,331				—			$	7.65			$	7.77
Options granted, range from $11.32-$13.24			20,000				—				12.28
Options exercised, range from $8.10-$11.30			(48,000	)			—				8.63
Options expired			(70,817	)			—				12.38
Balance outstanding, December 31, 2011			1,388,514				—			$	7.44			$	7.26
Options exercised, range from $3.67-$14.99			(659,733	)			—				7.05
Options expired			(23,436	)			—				10.41
Balance outstanding, December 31, 2012			705,345				—			$	7.70			$	7.95
Options exercised, $7.50			(126,149	)			—				7.50
Options expired			(18,167	)			—				7.50
Balance outstanding, December 31, 2013			561,029				—			$	7.76			$	7.70

Summary of Stock Options Summarized by Exercise Price

Information relating to stock options at December 31, 2013 summarized by exercise price is as follows:

		Outstanding Weighted Average												Exercisable Weighted Average
Exercise Price Per Share		Shares				Remaining Life (Months)				Exercise Price				Shares				Exercise Price
Incentive Stock Option Plan:
$7.50			534,350				83			$	7.50				534,350			$	7.50
$11.32-$14.75			26,679				80			$	12.90				20,012			$	13.10
			561,029							$	7.76				554,362			$	7.70

Weighted Average Exercise Prices for Options Granted and Exercisable and Weighted Average Remaining Contractual Life for Options Outstanding

The weighted average exercise prices for options granted and exercisable and the weighted average remaining contractual life for options outstanding as of December 31, 2012 and 2013 was as follows:

		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (Months)				Intrinsic Value (thousands)
As of December 31, 2012:
Incentive Stock Option Plans:
Outstanding			705,345			$	7.70				91			$	16,481
Expected to Vest			699,537			$	7.70				91			$	16,345
Exercisable			179,345			$	7.95				78			$	4,147
As of December 31, 2013:
Incentive Stock Option Plans:
Outstanding			561,029			$	7.76				83			$	9,276
Expected to Vest			560,972			$	7.76				83			$	9,275
Exercisable			554,362			$	7.70				83			$	9,196

Summary of Non-Vested Shares

A status summary of non-vested shares as of December 31, 2013, is presented below:

		Number of Shares				Weighted Average Grant-Date Fair Value
Nonvested shares at January 1, 2013			245,817			$	20.23
Granted			162,336			$	30.91
Vested			(19,452	)		$	18.38
Forfeited			(11,999	)		$	22.75
Nonvested shares at December 31, 2013			376,702			$	24.85

Performance Shares

Summary of Non-Vested Shares

A status summary of non-vested shares as of December 31, 2013, is presented below:

		Number of Shares				Weighted Average Grant- Date Fair Value
Nonvested shares at January 1, 2013			—			$	—
Granted			24,637			$	28.43
Vested			—			$	—
Forfeited			—			$	—
Nonvested shares at December 31, 2013			24,637			$	28.43

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Tabular disclosure of the changes in outstanding nonvested shares.

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+ References

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