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Shareholders' Equity | 3 Months Ended
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Mar. 31, 2014
Shareholders' Equity [Abstract] |
Shareholders' Equity | 7) Shareholders’ Equity Common Stock 2001 Stock Compensation Plan. The 2001 Stock Compensation Plan terminated on April 23, 2013 and, accordingly, no shares have been issued under this plan subsequent to that date. During the three months ended March 31, 2013, the Company issued 15,000 shares of common stock to eligible officers of the Company and recorded $41,000 in compensation expense for shares issued pursuant to the 2001 Stock Compensation Plan. The following table details the changes in common stock during the three months ended March 31, 2014:
(Amounts in thousands, except for share amounts) |
|  |  |  |  |  |  |  | Additional |
|  | Common Stock |  |  | Paid-In |
|  | Shares |  |  | Amount |  |  | Capital |
Balance January 1, 2014 |  |  | 27,735,878 |  |  | $ | 277 |  |  | $ | 123,510 |
Exercise of employee stock options |  |  | 22,264 |  |  |  | 1 |  |  |  | (35 | )
Exercise of outside director options |  |  | 7,372 |  |  |  | -- |  |  |  | 8 |
Expense of employee options vesting |  |  | -- |  |  |  | -- |  |  |  | 43 |
Expense of outside director options vesting |  |  | -- |  |  |  | -- |  |  |  | 16 |
Balance March 31, 2014 |  |  | 27,765,514 |  |  | $ | 278 |  |  | $ | 123,542 |
Stock Option Plans The following table represents the activity in employee stock options and non-employee director stock options for the three months ended March 31, 2014:
|  | March 31, 2014 |
|  | Employee Stock Options |  |  | Director Stock Options |
|  |  |  |  | Weighted |  |  |  |  |  | Weighted |
|  |  |  |  | Average |  |  |  |  |  | Average |
|  |  |  |  | Exercise |  |  |  |  |  | Exercise |
|  | Options |  |  | Price |  |  | Options |  |  | Price |
Outstanding balance at December 31, 2013 |  |  | 2,500,949 |  |  | $ | 3.60 |  |  |  | 146,000 |  |  | $ | 2.93 |
Granted |  |  | -- |  |  | $ | -- |  |  |  | -- |  |  | $ | -- |
Forfeited |  |  | -- |  |  | $ | -- |  |  |  | -- |  |  | $ | -- |
Expired |  |  | -- |  |  | $ | -- |  |  |  | -- |  |  | $ | -- |
Exercised |  |  | (62,684 | ) |  | $ | 2.45 |  |  |  | (13,334 | ) |  | $ | 2.72 |
Outstanding at March 31, 2014 |  |  | 2,438,265 |  |  | $ | 3.63 |  |  |  | 132,666 |  |  | $ | 2.96 |
Exercisable at March 31, 2014 |  |  | 2,074,935 |  |  | $ | 3.89 |  |  |  | 63,334 |  |  | $ | 3.43 |
Weighted Average Remaining Contractual Life - Years |  |  |  | 3.84 |  |  |  |  |  |  |  | 7.83 |
Aggregate intrinsic value of options outstanding ($ Thousands) |  |  | $ | 2,965 |  |  |  |  |  |  | $ | 242 |
Employee Stock Option Plans. During the three months ended March 31, 2014 and 2013, we recorded $43,000 and $16,000, respectively, in compensation expense for employee stock options. As of March 31, 2014, there was $327,000 of total unrecognized compensation cost related to employee stock options, which is expected to be amortized over a weighted average period of 2.00 years. The aggregate intrinsic value of employee stock options exercised during the three months ended March 31, 2014 was $139,000. Director Stock Option Plans. During the three months ended March 31, 2014 and 2013, we recorded $16,000 and $16,000, respectively, in expense for options issued to non-employee directors. As of March 31, 2014, there was $74,000 of total unrecognized compensation cost related to director stock options, which is expected to be amortized over a weighted average period of 1.52 years. The aggregate intrinsic value of director stock options exercised during the three months ended March 31, 2014 was $28,000.

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- Definition The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 15 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section B -Paragraph 7, 11A -Chapter 1 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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