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Share-Based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Share Options Granted Under Plan

A summary of the status of our share options as of December 31, 2013, 2012 and 2011 and the changes during the years ended on those dates are as follows:

 


     2013      2012      2011  
     Number of
Shares
Underlying
Options		      Weighted
Average
Exercise
Prices		      Number of
Shares
Underlying
Options		      Weighted
Average
Exercise
Prices		      Number of
Shares
Underlying
Options		      Weighted
Average
Exercise
Prices		  

Outstanding, January 1

      112,500           $8.21           94,750           $9.09           90,750           $10.11     

Granted

      -           -           30,000           $7.80           27,000           $8.75     

Expired

      (14,000)          $7.65           (12,250)          $14.01           (23,000)          $12.72     
  

 

 

        

 

 

        

 

 

     

Outstanding and exercisable, December 31

      98,500           $8.29           112,500           $8.21           94,750           $9.09     
  

 

 

        

 

 

        

 

 

     

Weighted-average fair value per share of stock options granted during the year

      N/A              $0.40              $1.10        
  

 

 

        

 

 

        

 

 

     
Black-Scholes Option Pricing Model

The fair value of each share option granted is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:

 

     Years Ended December 31,      
           2012                  2011          

Assumption:

     

Expected Term (years)

      3.0         3.0     

Risk-Free Interest Rate

      0.39%         0.71%     

Expected Dividend Yield

      8.21%         7.31%     

Expected Volatility

      21.12%         33.58%     

Forfeiture Rate

      1.00%         2.00%     
Schedule of Share Based Compensation Arrangement by Share Based Payment Award Options Outstanding and Exercisable

The following table summarizes information about share options outstanding at December 31, 2013:

 

     Options Outstanding and Exercisable      
Range of
        Exercise Prices        		    Number
    Outstanding    		      Weighted
Average
Remaining
    Contract Life    
(in years)		          Weighted    
Average
Exercise
Price		    
$7.80      30,000         3.44                 $7.80             
$8.35 to $8.75      68,500         1.62                 $8.51             

 

   

 

 

     

 

 

     

 

 

    
$7.80 to $8.75      98,500         2.17                 $8.29             
Summary of Changes in Outstanding RSUs and Restricted Stock

A summary of our restricted shares as of December 31, 2013, 2012 and 2011 and the changes during the years ended on those dates are as follows:

 

     2013      2012      2011  
     Number of
Shares		      Weighted
Average Grant
Date Fair Value
Per Share		      Number of
Shares		      Weighted
Average Grant
Date Fair Value
Per Share		      Number of
Shares		      Weighted
Average Grant
Date Fair Value
Per Share		  

Balance, January 1

      6,666           $7.75           11,031           $8.57           12,066           $8.35     

Granted

      6,666           $7.06           15,000           $7.45           15,000           $8.73     

Vested

      (6,666)         $7.74           (19,365)          $7.98           (16,035)          $8.55     

Forfeited

      -           -           -           -           -           -     
  

 

 

        

 

 

        

 

 

     

Balance, December 31

      6,666           $7.13           6,666           $7.75           11,031           $8.57