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Stock Option Plan and Stock Based Compensation (Tables)
6 Months Ended
Aug. 31, 2012
Stock Option Plan and Stock Based Compensation [Abstract]  
Stock option activity
                                 
    Number
of
Shares
(exact quantity)
    Weighted
Average
Exercise
Price
    Weighted
Average
Remaining
Contractual
Life 
(in  years)
    Aggregate
Intrinsic
Value(a)
(in thousands)
 

Outstanding at February 29, 2012

    310,193     $ 15.60       6.6     $ 626  

Granted

    72,707       15.48                  

Terminated

    (2,500     13.28                  

Exercised

    (3,000     8.94                  
   

 

 

                         

Outstanding at August 31, 2012

    377,400     $ 15.64       6.8     $ 398  
   

 

 

                         

Exercisable at August 31, 2012

    206,196     $ 15.63       5.3     $ 271  
   

 

 

                         

 

(a) Intrinsic value is measured as the excess fair market value of the Company’s common stock as reported on the New York Stock Exchange over the applicable exercise price.
Assumptions used and the weighted average grant-date fair value of the stock options granted
                 
    August 31,  
    2012     2011  

Expected volatility

    37.02     43.76

Expected term (years)

    3       3  

Risk free interest rate

    0.43     1.16

Dividend yield

    4.42     3.66
     

Weighted average grant-date fair value

  $ 2.83     $ 4.24  
Summary of stock options exercised and tax benefits realized from stock based compensation
                                 
    Three months ended
August 31,
    Six months ended
August 31,
 
    2012     2011     2012     2011  

Total cash received

  $ 26     $ 49     $ 26     $ 200  

Income tax benefits

    —         —         —         —    

Total grant-date fair value

    5       9       5       35  

Intrinsic value

    17       22       17       156  
Summary of unvested stock options
                 
    Number
of Options
    Weighted
Average
Grant Date
Fair Value
 

Unvested at February 29, 2012

    169,411     $ 3.31  

New grants

    72,707       2.83  

Vested

    (70,914     3.13  

Forfeited

    —         —    
   

 

 

         

Unvested at August 31, 2012

    171,204     $ 3.18  
   

 

 

         
Restricted stock grant activity
                 
    Number of
Shares
    Weighted
Average
Grant Date
Fair Value
 

Outstanding at February 29, 2012

    131,333     $ 17.09  

Granted

    92,293       15.46  

Terminated

    —         —    

Vested

    (36,578     16.05  
   

 

 

         

Outstanding at August 31, 2012

    187,048     $ 16.49