Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2014

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

Summary of share-based compensation expense

The following table summarizes share-based compensation expense for the three months ended March 31:

(in thousands)	2014			2013
Restricted stock	$	654		$	773
Performance unit incentive plan (“PUP”)	(231		)	863
Restricted stock units	(32		)	88
Stock options	—			95
Share-based compensation before income tax benefit	391			1,819
Income tax benefit	(152		)	(654		)
Share-based compensation, net of income tax benefit	$	239		$	1,165

Summary of Liability Based Award Activity

The following table summarizes the activity of the outstanding share-based compensation awards:

	Restricted Stock				PUP Awards				Restricted Stock Units
	Shares		Weighted-Average Grant Date Fair Value		Units		Weighted-Average Grant Date Fair Value		Units		Weighted-Average Grant Date Fair Value
Balance, December 31, 2013	430,899		$	22.78	299,768		$	23.46	28,560		$	22.91
Granted	83,300		23.95		123,300		23.71		6,700		24.95
Vested	(132,255	)	22.67		(94,600	)	23.01		(9,890	)	23.45
Forfeited	(5,140	)	22.44		—		—		—		—
Balance, March 31, 2014	376,804		23.09		328,468		23.69		25,370		23.24

Summary of stock option activity

The following table summarizes stock option activity:

	Shares		Weighted- Average Exercise Price		Options Exercisable
Options outstanding at December 31, 2013	314,323		$	19.79	314,323
Exercised	(36,815	)	19.26
Forfeited or expired	(18,522	)	35.28
Award modification	17,865		N/A
Options outstanding at March 31, 2014	276,851		17.69		276,851