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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of restricted stock units issued and compensation expense
The following table summarizes RSUs issued and the compensation expense recorded for the years ended December 31, 2015, 2014 and 2013:
 
 
RSUs
 
Weighted Average Fair Value
 
Expense
(Dollars in thousands, except per unit)
 
 
 
2015
 
2014
 
2013
Directors:
 
 
 
 
 
 
 
 
 
 
2012
 
30,618

 
$
21.44

 
—

 
—

 
255

2013
 
46,287

 
$
20.60

 
—

 
318

 
636

2014
 
36,840

 
$
24.80

 
311

 
602

 
—

2015
 
59,985

 
$
15.69

 
627

 
—

 
—

Employees:
 
 
 
 
 
 
 
 
 
 
2011
 
17,250

 
$
23.55

 
—

 
3

 
69

2012
 
141,486

 
$
18.75

 
(71
)
(a)
151

 
383

2013
 
170,582

 
$
20.63

 
87

 
325

 
633

2014
 
190,832

 
$
25.21

 
504

 
1,114

 
—

2015
 
239,679

 
$
16.53

 
919

 
—

 
—

Total
 
 

 
 

 
$
2,377

 
$
2,513

 
$
1,976

(a) Represents the impact of forfeitures during 2015.
Schedule of restricted stock unit activity
RSU activity for the years ended December 31, 2015, 2014 and 2013 was as follows:
 
 
RSUs
 
 
Number of Shares
 
Weighted Average
Grant-Date
Fair Value
Non-vested at January 1, 2013
 
141,473

 
$
19.19

Granted
 
216,869

 
$
20.62

Vested
 
(69,955
)
 
$
20.54

Forfeited
 
(74,546
)
 
$
22.61

Non-vested at December 31, 2013
 
213,841

 
$
19.95

Granted
 
227,672

 
$
25.14

Vested
 
(52,041
)
 
$
23.58

Forfeited
 
(84,956
)
 
$
20.92

Non-vested at December 31, 2014
 
304,516

 
$
22.94

Granted
 
299,664

 
$
16.36

Vested
 
(58,760
)
 
$
19.34

Forfeited
 
(107,062
)
 
$
22.14

Non-vested at December 31, 2015
 
438,358

 
$
19.12
Schedule of Stock Appreciation Rights award activity
SARs activity for the years ended December 31, 2015, 2014 and 2013 was as follows:
 
 
SARs
 
 
Number of Shares
 
Weighted Average Exercise Price
 
Aggregate Intrinsic Value (in millions) (a)
Outstanding, January 1, 2013
 
525,287

 
$
21.23

 
$
1.2

Granted
 
923,832

 
$
22.76

 
 
Exercised
 
(11,037
)

$
19.65

 
 
Forfeited/Expired
 
(476,624
)
 
$
22.28

 
 
Outstanding, December 31, 2013
 
961,458

 
$
22.20

 
$
5.6

Granted
 
450,894

 
$
25.20

 
 
Exercised
 
(52,667
)
 
$
20.21

 
 
Forfeited/Expired
 
(406,637
)
 
$
22.65

 
 
Outstanding, December 31, 2014
 
953,048

 
$
23.53

 
$
—

Granted
 
532,615

 
$
16.53

 
 
Forfeited/Expired
 
(385,253
)
 
$
22.36

 
 
Outstanding, December 31, 2015
 
1,100,410

 
$
20.55

 
$
—


(a) Intrinsic value is defined as the difference between the current market value and the exercise price, for those SARs where the market price exceeds the exercise price.
Schedule of nonvested awards activity
The following table summarizes information concerning outstanding and exercisable SARs at December 31, 2015:
 
 
SARs Outstanding
 
SARs Exercisable
Range of exercisable prices
 
Vested
 
Non-vested
 
Weighted-Average Exercise Price per Share
 
Weighted-Average Remaining Contractual Life in Years
 
Number Exercisable
 
Weighted-Average Exercise Price per Share
$16.53 - $22.70
 
121,020

 
628,692

 
$
18.49

 
8.58
 
121,020

 
$
21.71

$23.03 - $26.92
 
127,291

 
223,407

 
$
24.97

 
8.24
 
127,291

 
$
24.89

 
 
248,311

 
852,099

 
$
20.55

 
8.47
 
248,311

 
$
23.34
Schedule of stock option activity
Stock option activity for the years ended December 31, 2015, 2014 and 2013 was as follows:
 
 
Stock Options
 
 
Number of Shares
 
Weighted Average
Exercise Price
 
Aggregate
Intrinsic Value
(in millions)(a)
Outstanding, January 1, 2013
 
328,000

 
$
30.67

 
$
0.2

Exercised
 
(20,000
)
 
$
16.96

 
$
—

Forfeited/Expired
 
(79,000
)
 
$
31.00

 
$
—

Outstanding, December 31, 2013
 
229,000

 
$
31.75

 
$
—

Forfeited/Expired
 
(107,500
)
 
$
31.75

 
$
—

Outstanding, December 31, 2014
 
121,500

 
$
31.75

 
$
—

Forfeited/Expired
 
(31,500
)
 
$
31.75

 
$
—

Outstanding, December 31, 2015
 
90,000

 
$
31.75

 
$
—

(a)
Intrinsic value is defined as the difference between the current market value and the exercise price, for those options where the market price exceeds the exercise price.
Schedule of outstanding and exercisable options
The following table summarizes information concerning outstanding and exercisable options at December 31, 2015:
 
 
Stock Options Outstanding
 
Stock Options Exercisable
Range of Exercisable Prices
 
Vested
 
Non-vested
 
Weighted Average
Exercise
Price Per
Share
 
Weighted Average
Remaining
Contractual
Life in
Years
 
Number
Exercisable
 
Weighted Average
Exercise
Price Per
Share
$31.75 - $31.75
 
90,000

 
—

 
$
31.75

 
2.1
 
90,000

 
$
31.75
Stock Appreciation Rights (SARs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of stock appreciation rights valuation assumptions
The fair value of each SAR grant was estimated on the grant date using a Black-Scholes pricing model with the following assumptions:
 
 
SARs Issued
 
 
Risk-free Interest rate
 
Dividend Yield
 
Expected Life (Years)
 
Volatility
 
SAR Grant Price
 
Fair Value of SAR
May 2013 Grant
 
1.17
%
 
3.61
%
 
6.5
 
44.1
%
 
$
22.70

 
$
6.86

June 2013 Grant
 
1.41
%
 
3.56
%
 
6.5
 
44.1
%
 
$
23.03

 
$
7.07

November 2013 Grant
 
1.91
%
 
3.13
%
 
6.5
 
43.8
%
 
$
26.22

 
$
8.60

April 2014 Grant
 
1.98
%
 
3.53
%
 
6.0
 
44.3
%
 
$
23.25

 
$
7.25

May 2014 Grant (1st)
 
1.90
%
 
3.16
%
 
6.0
 
43.2
%
 
$
25.93

 
$
8.16

May 2014 Grant (2nd)
 
1.82
%
 
3.05
%
 
6.0
 
42.8
%
 
$
26.92

 
$
8.47

July 2014 Grant
 
2.00
%
 
3.24
%
 
6.0
 
41.2
%
 
$
25.27

 
$
7.55

August 2014 Grant
 
1.92
%
 
3.27
%
 
6.0
 
41.2
%
 
$
25.11

 
$
7.46

September 2014 Grant
 
2.03
%
 
3.50
%
 
6.0
 
40.6
%
 
$
23.43

 
$
6.72

November 2014 Grant
 
1.78
%
 
4.00
%
 
6.0
 
38.6
%
 
$
20.48

 
$
5.17

May 2015 Grant
 
1.70
%
 
4.96
%
 
6.0
 
35.8
%
 
$
16.53

 
$
3.39
Schedule of weighted-average grant-date fair value of unvested options
Weighted-average grant date fair value of non-vested SARs for the years ended December 31, 2015 and 2014 was as follows:
 
 
SARs
 
 
Number of Shares
 
Weighted-Average Grant Date Fair Value
Non-vested shares, January 1, 2014
 
839,505

 
$
22.27

Granted
 
450,894

 
$
25.20

Vested
 
(84,685
)
 
$
23.23

Exercised
 
(52,667
)
 
$
20.21

Forfeited
 
(406,637
)
 
$
22.65

Non-vested shares, December 31, 2014
 
746,410

 
$
23.87

Granted
 
532,615

 
$
16.53

Vested
 
(41,673
)
 
$
24.05

Forfeited
 
(385,253
)
 
$
22.36

Non-vested shares, December 31, 2015
 
852,099

 
$
19.74
Performance Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of stock appreciation rights valuation assumptions
The fair value of PSUs granted was estimated on the grant date using a Monte Carlo pricing model with the following assumptions:
 
 
PSUs Issued
 
 
Risk-free Interest rate
 
Dividend Yield
 
Expected Life (Years)
 
Volatility
 
Fair Value of PSU
April 2014 Grant
 
0.75
%
 
—
%
 
2.73
 
34.3
%
 
$
18.00

May 2014 Grant (1st)
 
0.70
%
 
—
%
 
2.65
 
31.8
%
 
$
25.26

May 2014 Grant (2nd)
 
0.63
%
 
—
%
 
2.61
 
30.1
%
 
$
27.53

July 2014 Grant
 
0.74
%
 
—
%
 
2.42
 
26.9
%
 
$
22.31

August 2014 Grant
 
0.67
%
 
—
%
 
2.42
 
26.9
%
 
$
21.86

September 2014 Grant
 
0.72
%
 
—
%
 
2.29
 
25.7
%
 
$
15.26

November 2014 Grant
 
0.55
%
 
—
%
 
2.10
 
26.3
%
 
$
7.42

May 2015 Grant
 
0.83
%
 
—
%
 
2.65
 
28.5
%
 
$
14.48
Schedule of weighted-average grant-date fair value of unvested options
A summary of the Company's non-vested PSU activity during the years ending December 31, 2015 and 2014 is presented in the following table:
 
 
PSUs
 
 
Number of Shares
 
Weighted-Average Grant Date Fair Value
Non-vested shares, January 1, 2014
 
—

 
$
—

Granted
 
145,149

 
$
22.82

Forfeited
 
(9,796
)
 
$
25.26

Non-vested shares, December 31, 2014
 
135,353

 
$
22.65

Granted
 
237,063


$
14.48

Forfeited
 
(57,204
)

$
20.26

Non-vested shares, December 31, 2015
 
315,212


$
16.94