Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2013

Stockholders' Equity Note [Abstract]

Schedule of Stock by Class

The table below provides information regarding the Company's preferred and common stock as of December 31, 2013 and December 31, 2012:

	December 31, 2013			December 31, 2012
	Authorized	Issued	Outstanding	Authorized	Issued	Outstanding
Preferred Stock, $1 par value	500,000	—	—	500,000	—	—
Class A Common Stock, $1 par value	2,000,000	—	—	2,000,000	—	—
Common Stock, $1 par value	3,000,000	2,494,480	2,494,480	3,000,000	2,466,600	2,466,600

The Company has a share based compensation plan in place for directors by which shares are issued for board service. The share based compensation plan is in accordance with the 2009 Equity Incentive Plan (the Plan) previously approved by shareholders. Under the Plan, 200,000 shares are authorized for issuance. On June 28, 2013, 27,880 shares of common stock were issued to directors as compensation under the Plan. Compensation costs for shares issued under the Plan are calculated at market value on the date of award. Compensation costs for shares issued on June 28, 2013, totaled $224,000 .