Stock Compensation (Tables)

9 Months Ended

Sep. 30, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Fair Value of stock options granted assumptions used

The expected volatility is derived from historical volatility of the Company’s shares and those of similar companies measured against the market as a whole.

Model
Risk free interest rate	2.00		%
Expected dividend yield	2.20		%
Expected life of award (years)	5.4
Expected volatility	50.00		%
Fair value per option share	$	4.93

Summary of stock option activity for the period

The following table provides a summary of stock option activity for the period ended September 30, 2012:

	Shares		Average Exercise Price		Weighted Average Life
Outstanding at January 1, 2012	1,997,778		$	11.33
Options Granted	323,950		12.96
Options Exercised	(281,324	)	11.07
Cancelled or Forfeited	(25,199	)	11.05
Outstanding at September 30, 2012	2,015,205		$	11.61	6.59 years
Exercisable at September 30, 2012	1,363,466		$	11.62

Summary of restricted stock activity for the period

The following table provides a summary of restricted stock activity for the nine months ended September 30, 2012:

	Shares		Average Grant-Date Fair Value
Unvested shares at January 1, 2012	288,500
Granted	165,495		$	13.79
Vested	(40,500	)	—
Forfeited	(32,275	)	10.03
Unvested shares at September 30, 2012	381,220		$	11.01