Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2011

Stock-Based Compensation

Schedule of restricted stock units issued and compensation expense

					Expense (Income)
	Restricted Stock Units		Fair Value per Unit
(Dollars in thousands, except per unit)					2011		2010		2009
Directors:
May 1, 2008		16,000	$	58.36	$	—	$	—	$	311
May 1, 2009		16,000		27.28		—		145		291
May 3, 2010		16,000		30.99		165		331		—
May 2, 2011		20,192		34.79		468		—		—
Employees:
January 24, 2006		93,100		33.85		—		—		(191	)(a)
January 23, 2007		101,700		38.25		—		41		761
January 22, 2008		130,950		45.95		68		1,601		1,371
January 27, 2009		106,625		25.15		614		667		1,174
November 19, 2009		15,000		31.90		12		298		169
January 25, 2010		1,000		31.49		10		20		—
September 22, 2010		25,000		23.47		373		194		—
April 26, 2011		3,750		32.10		29		—		—
September 20, 2011		13,500		21.18		111		—		—
Total					$	1,850	$	3,297	$	3,886

(a)

Due primarily to forfeitures of restricted stock units.

Schedule of restricted stock unit activity

	Restricted Stock Units			Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2009		257,730		$	41.40
Granted		137,625			26.13
Vested		(153,283	)		38.46
Forfeited		(12,581	)		36.97
Nonvested at December 31, 2009		229,491		$	34.45
Granted		42,000			26.53
Vested		(124,424	)		35.81
Forfeited		(6,532	)		35.23
Nonvested at December 31, 2010		140,535		$	30.83
Granted		37,442			29.61
Vested		(113,136	)		33.55
Forfeited		(2,200	)		25.15
Nonvested at December 31, 2011		62,641		$	25.39

Schedule of stock option activity

	Shares Under Option			Weighted-Average Exercise Price		Aggregate Intrinsic Value (in millions)(a)
Outstanding, January 1, 2009		483,820		$	15.39	$	5.7
Exercised		(92,250	)		14.25		—
Expired		(1,600	)		14.57		—
Outstanding, December 31, 2009		389,970		$	15.66	$	6.7
Exercised		(115,493	)		13.77		—
Expired		(805	)		16.33		—
Outstanding, December 31, 2010		273,672		$	16.46	$	3.3
Granted		617,500			31.75		—
Exercised		(199,032	)		15.95		—
Forfeited/Expired		(30,300	)		30.92		—
Outstanding, December 31, 2011		661,840		$	30.22	$	0.2

(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

	Options Outstanding								Options Exercisable
Range of Exercisable Prices	Vested		Unvested		Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Life in Years		Number Exercisable		Weighted-Average Exercise Price Per Share
16.32-16.33		28,840		—	$	16.33		0.05		28,840	$	16.33
16.96-16.96		24,000		—	$	16.96		1.33		24,000	$	16.96
20.96-20.96		20,000		—	$	20.96		0.33		20,000	$	20.96
31.75-31.75		—		589,000	$	31.75		6.07		—		—
		72,840		589,000	$	30.22		5.46		72,840	$	17.81

Schedule of weighted-average grant-date fair value of unvested options

	Shares Under Option			Weighted-Average Grant-Date Fair Value
Outstanding, January 1, 2011		—		$	—
Granted		617,500			10.90
Forfeited		(28,500	)		10.90
Outstanding, December 31, 2011		589,000		$	10.90