Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2013

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

Assumptions Used in the Black Scholes Model

The estimated fair value of the stock options granted during 2013 and in prior year was calculated using a Black Scholes option pricing model.  The following summarizes the assumptions used in the 2013 Black Scholes model:

Risk-free interest rate	1.25	%
Expected price volatility	45.68	%
Dividend yield	2.96	%
Forfeiture rate	4.73	%
Weighted-average expected life, until exercise	7.3 years

Components of Share Based Compensation Awards

The following table summarizes the components of the Corporation's share-based compensation awards recorded as expense:

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Stock and ESPP Options
Pre-tax compensation expense	$	50		$	80		$	88		$	126
Income tax expense (benefit)	20			(2		)	18			(2		)
Stock and ESPP option expense, net of income taxes	$	70		$	78		$	106		$	124
Restricted Stock Awards
Pre-tax compensation expense	$	386		$	280		$	722		$	560
Income tax benefit	(135		)	(112		)	(252		)	(218		)
Restricted stock awards expense, net of income taxes	$	251		$	168		$	470		$	342
Total Share-Based Compensation
Pre-tax compensation expense	$	436		$	360		$	810		$	686
Income tax benefit	(115		)	(114		)	(234		)	(220		)
Total share-based compensation expense, net of income taxes	$	321		$	246		$	576		$	466

Stock Option Activity Under Stock Option Plans

Stock option activity under the Corporation's stock option plans as of June 30, 2013 and changes during the six months ended June 30, 2013, were as follows:

	Number of Shares		Weighted-Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value
Outstanding at January 1, 2013	906,636		$	21.58
Granted	9,000		$	15.32
Exercised	(6,000	)	$	7.37
Canceled	(8,471	)	$	24.69
Outstanding June 30, 2013	901,165		$	21.66	4.03	1,471,401
Vested and Expected to Vest at June 30, 2013	901,165		$	21.66	3.6	1,471,401
Exercisable at June 30, 2013	863,865		$	22.06	3.79	1,291,640

Unvested RSAs Outstanding

The following table summarizes information on unvested RSAs outstanding as of June 30, 2013:

	Number of Shares		Weighted-Average Grant Date Fair Value
Unvested RSAs at January 1, 2013	401,375		$	9.29
Granted	114,561		$	15.39
Vested	(105,866	)	$	6.07
Forfeited	(450	)	$	12.41
Unvested RSAs at June 30, 2013	409,620		$	11.82