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Stock Based Compensation Expense (Tables)

9 Months Ended

Sep. 30, 2014

Option activity within each plan is as follows:


	Incentive Stock Option Plans			Weighted Average Price Per Share		Exercisable Weighted Average Price Per Share
Balance outstanding, December 31, 2013		561,029		$	7.76	$	7.70
Options exercised, $7.50		(82,650	)		7.50

Balance outstanding, March 31, 2014		478,379		$	7.80	$	7.74
Options exercised, $7.50		(17,500	)		7.50

Balance outstanding, June 30, 2014		460,879		$	7.81	$	7.77
Options exercised, $7.50		(1,000	)		7.50

Balance outstanding, September 30, 2014		459,879		$	7.81	$	7.81

Summary of Stock Options Summarized by Exercise Price

Information relating to stock options at September 30, 2014 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		433,200		74	$	7.50		433,200	$	7.50
$11.32—$14.75		26,679		71	$	12.90		26,679	$	12.90

		459,879			$	7.81		459,879	$	7.81

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 September 30, 2014 was as follows:


	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Months)		Intrinsic Value (thousands)
As of September 30, 2014:
Incentive Stock Option Plans:
Outstanding		459,879	$	7.81		74	$	1,603
Expected to Vest		459,879	$	7.81		74	$	1,603
Exercisable		459,879	$	7.81		74	$	1,603

Summary of Non-Vested Shares

Restricted Shares—A status summary of non-vested shares as of and for the nine months ended September 30, 2014 is presented below:


	Number of Shares			Weighted Average Grant- Date Fair Value
Nonvested shares at December 31, 2013		376,702		$	24.85
Vested		(1,000	)	$	31.83
Forfeited		(1,840	)	$	24.23

Nonvested shares at March 31, 2014		373,862		$	24.83
Granted		240,724		$	14.81
Vested		(23,478	)	$	13.84

Nonvested shares at June 30, 2014		591,108		$	21.19
Vested		(4,000	)	$	12.16
Forfeited		(6,104	)	$	14.92

Nonvested shares at September 30, 2014		581,004		$	21.32

Performance Shares

Summary of Non-Vested Shares

Performance Based Shares—A status summary of non-vested performance based shares as of and for the nine months ended September 30, 2014 is presented below:


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

Nonvested shares at March 31, 2014		24,637	$	28.43
Granted		79,270	$	14.23
Vested		—	$	—
Forfeited		—	$	—

Nonvested shares at June 30, 2014		103,907	$	17.60
Granted		—	$	—
Vested		—	$	—
Forfeited		—	$	—

Nonvested shares at September 30, 2014		103,907	$	17.60