Share-Based Compensation Plans:

3 Months Ended

Mar. 31, 2012

Share-Based Compensation Plans: [Abstract]

Share-Based Compensation Plans:

Note 6. Share-Based Compensation Plans:

We issued an aggregate of 10,000 restricted shares to executive officers on March 12, 2012 at the then current market price of the shares of $7.27 (the closing price on March 9, 2012). We issued an aggregate of 10,000 restricted shares to executive officers on March 13, 2011 at the then current market price of the shares of $8.72. The restricted shares vest based on two years of continuous service with one-third of the shares vesting immediately upon issuance of the shares and one-third vesting at the end of each of the next two years. Restricted share awards provide for accelerated vesting if there is a change in control (as defined in the plan). Compensation expense related to the restricted shares is being recognized over the vesting periods. We recorded compensation expense of $40,000 and $49,000 during the three months ended March 31, 2012 and 2011, respectively, related to restricted shares. As of March 31, 2012, there was $62,000 of total unrecognized compensation expense related to restricted shares which will be recognized over the next two years.