Equity Compensation, Employment Agreements and Other Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2011

Equity Compensation, Employment Agreements and Other Benefit Plans

Schedule of dividend distributions activity

	For the Year Ended December 31,
	2011				2010			2009
			Weighted			Weighted			Weighted
			Average			Average			Average
	Number of		Grant Date		Number of	Grant Date		Number of	Grant Date
	DERs		Fair Value (1)		DERs	Fair Value		DERs	Fair Value
Outstanding at beginning of year:	1,514,767		$	8.40	835,892	$	9.62	835,892	$	9.62
Granted	305,000		2.71		678,875	6.91		—	—
Cancelled, forfeited or expired	(163,919	)	8.48		—	—		—	—
Outstanding at end of year	1,655,848		$	7.35	1,514,767	$	8.40	835,892	$	9.62

(1)  The grant date fair value of DERs is based on the weighted average grant date fair value of the attached or associated equity award.

Schedule of stock options activity

	For the Year Ended December 31,
	2011				2010				2009
	Number of Options		Weighted Average Exercise Price		Number of Options	Weighted Average Exercise Price			Number of Options		Weighted Average Exercise Price
Outstanding at beginning of year:	537,000		$	10.11	532,000	$	10.14		632,000		$	9.31
Granted	—		—		5,000	6.99		(1)	—		—
Cancelled, forfeited or expired	(55,000	)	10.06		—	—			—		—
Exercised	—		—		—	—			100,000	(2)	4.88
Outstanding at end of year	482,000		$	10.12	537,000	$	10.11		532,000		$	10.14
Options exercisable at end of year	482,000		$	10.12	532,000	$	10.14		532,000		$	10.14

(1)  Granted with 1,250 DERs attached.  The Options granted during 2010 had an aggregate grant date fair value of $7,000, or a weighted average of $1.35 per Option.

(2)  The intrinsic value of Options exercised was $274,000 for the year ended December 31, 2009.

Schedule of the status of stock options by exercise price range or by exercise price

Exercise Price or Price Range		Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)
$	6.99	5,000	$	6.99	8.4
8.40		25,000	8.40		2.6
10.25		452,000	10.25		1.8
		482,000	$	10.12	1.9

Schedule of restricted stock activity

	For the Year Ended December 31,
	2011				2010				2009
			Weighted				Weighted				Weighted
	Shares of		Average		Shares of		Average		Shares of		Average
	Restricted		Grant Date		Restricted		Grant Date		Restricted		Grant Date
	Stock		Fair Value (1)		Stock		Fair Value		Stock		Fair Value
Outstanding at beginning of year:	792,824		$	7.40	663,241		$	6.86	367,107		$	5.78
Granted	387,418		7.03		465,085		7.96		458,715		7.50
Vested (2)	(415,890	)	7.19		(328,743	)	7.10		(162,581	)	6.25
Cancelled/forfeited	(12,197	)	7.60		(6,759	)	7.13		—		—
Outstanding at end of year	752,155		$	7.33	792,824		$	7.40	663,241		$	6.86

(1)  The grant date fair value of restricted stock awards is based on the closing market price of the Company’s common stock at the grant date.

(2)  All restrictions associated with restricted stock are removed on vesting.

Schedule of restricted stock units activity

	For the Year Ended December 31, 2011
	RSUs With Service Condition		Weighted Average Grant Date Fair Value			RSUs With Market and Service Conditions		Weighted Average Grant Date Fair Value			Total RSUs		Total Weighted Average Grant Date Fair Value
Outstanding at beginning of year:	778,142		$	8.15		225,875		$	5.18		1,004,017		$	7.49
Granted	39,159		6.13		(1)	48,341		3.08		(2)	87,500		4.44
Settled	(60,169	)	8.40			—		—			(60,169	)	8.40
Cancelled/forfeited	(35,000	)	7.77			(17,500	)	5.21			(52,500	)	7.14
Outstanding at end of year	722,132		$	8.04		256,716		$	4.78		978,848		$	7.18
RSUs vested but not settled at end of year	284,723		$	8.68		—		$	—		284,723		$	8.68
RSUs unvested at end of year	437,409	(3)	$	7.62		256,716	(4)	$	4.78		694,125		$	6.57

	For the Year Ended December 31, 2010
	RSUs With Service Condition	Weighted Average Grant Date Fair Value			RSUs With Market and Service Conditions	Weighted Average Grant Date Fair Value			Total RSUs	Total Weighted Average Grant Date Fair Value
Outstanding at beginning of year:	326,392	$	8.68		—	$	—		326,392	$	8.68
Granted	451,750	7.77		(5)	225,875	5.18		(6)	677,625	6.91
Cancelled/forfeited	—	—			—	—			—	—
Outstanding at end of year	778,142	$	8.15		225,875	$	5.18		1,004,017	$	7.49
RSUs vested but not settled at end of year	326,392	$	8.68		—	$	—		326,392	$	8.68
RSUs unvested at end of year	451,750	$	7.77		225,875	$	5.18		677,625	$	6.91

(1)  For RSUs with a service condition, determination of the weighted average grant date fair value of the award requires the Company to estimate certain valuation inputs.  In determining the fair value for awards granted in 2011, the Company applied:  (i) weighted average volatility estimates ranging from approximately 31% to 36%, which were determined considering historic volatility in the price of Company’s common stock over the three or six-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 0.33% and 2.23% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 13%.  There are no post vesting conditions on these awards.

(2)  For RSUs with both a market and service condition, determination of the weighted average grant date fair value of the award requires the Company to estimate certain valuation inputs.  In determining the fair value for awards granted in 2011, the Company applied:  (i) a weighted average volatility estimate of approximately 31%, which was determined considering historic volatility in the price of Company’s common stock over the six-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 2.23% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; and (iii) an estimated annual dividend yield of 13%.  There are no post vesting conditions on these awards.

(3)  Of which, approximately 8,053 are scheduled to vest annually over a three-year period beginning June 30, 2012, 5,000 are scheduled to vest annually over a three-year period beginning September 5, 2012, 29,250 are scheduled to vest on December 31, 2012 and 369,000 are scheduled to vest on December 31, 2014, or earlier in the event of death or disability of the grantee or termination of employment of the grantee by the Company for any reason other than “cause” or by the grantee under certain circumstances as defined in the related RSU award agreement.

(4)  Of which, approximately 16,113 are scheduled to vest annually over a three-year period beginning June 30, 2012, 14,625 are scheduled to vest on December 31, 2012 and 193,750 are scheduled to vest on December 31, 2014, provided certain criteria related to total stockholder returns are met, which are based on a formula that includes changes in the Company’s closing stock price over a one, two-or four-year period, respectively, and dividends declared on the Company’s common stock during those periods.  A portion of these RSUs may vest earlier in the event of death or disability of the grantee or termination of employment of the grantee by the Company for any reason other than “cause” or by the grantee under certain circumstances as defined in the related RSU award agreement.

(5)  For RSUs with a service condition and post-vesting restrictions granted in 2010, the Company determined the grant date fair value of the award applying a discount for lack of marketability of 5% using a tight collar model.

(6)  In determining the fair value for awards with both a market and service condition granted in 2010, the Company applied:  (i) a weighted average volatility estimate of approximately 35%, which was determined considering historic volatility in the price of Company’s common stock over the four-year period prior to the grant date and the implied volatility of certain exchange-traded options on the Company’s common stock at the grant date; (ii) a weighted average risk-free rate of 1.61% based on the continuously compounded constant maturity treasury rate corresponding to a maturity commensurate with the expected vesting term of the awards; (iii) an estimated annual dividend yield of 10%; and (iv) a discount for lack of marketability of 5% using a tight collar model to account for post-vesting restrictions.

Schedule of expenses related to equity-based compensation

	For the Year Ended December 31,
(In Thousands)	2011		2010		2009
Restricted shares of common stock	$	2,996	$	2,335	$	1,015
RSUs	1,264		945		895
DERs	122		—		—
Stock options	3		3		—
Total	$	4,385	$	3,283	$	1,910

Schedule of expenses related to deferred compensation plans

	For the Year Ended December 31,
(In Thousands)	2011			2010		2009
Non-employee directors	$	(6	)	$	74	$	161
Officers	—			5		25
Total	$	(6	)	$	79	$	186

Schedule of aggregate income deferred by participants and associated liability under deferred compensation plans

	December 31, 2011				December 31, 2010
	Undistributed				Undistributed
	Income		Liability Under		Income		Liability Under
(In Thousands)	Deferred (1)		Deferred Plans		Deferred (1)		Deferred Plans
Non-employee directors	$	209	$	254	$	253	$	405
Officers	—		—		13		28
Total	$	209	$	254	$	266	$	433

(1)  Represents the cumulative amounts that were deferred by participants through December 31, 2011 and December 31, 2010, which had not been distributed through such date.