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Shareholders' Equity, Stock Plans and Preferred Stock (Tables)

12 Months Ended

Dec. 31, 2014

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

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The table below shows the weighted average assumptions the Company used to develop the fair value estimates under its option valuation model:



	Year Ended December 31,
	2014	2013	2012
Expected volatility (range)	N/A⁽¹⁾	N/A⁽¹⁾	58% - 59%
Risk free interest rate (range)	N/A⁽¹⁾	N/A⁽¹⁾	0.80% - 1.03%
Expected dividends	N/A⁽¹⁾	N/A⁽¹⁾	3.75%
Weighted average expected term (years)	N/A⁽¹⁾	N/A⁽¹⁾	6

___________


(1)	The Company did not issue any options or other equity grants that would require application of the Black-Scholes-Merton equity grant valuation model during the years ended December 31, 2014 and 2013. All equity grants during these periods were restricted common shares which are valued using an intrinsic valuation method based on market price.

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value

The table below describes the resulting weighted average grant date fair values calculated as well as the intrinsic value of options exercised under the Company's equity awards during each of the following years:



	Year Ended December 31,
	2014⁽¹⁾		2013⁽¹⁾		2012
Weighted average grant date fair value	—		$	—	$	2.29
Total intrinsic value of exercises	$	126,000	$	53,000	$	12,000

___________


(1)	The Company did not issue any options or other equity grants that would require application of the Black-Scholes-Merton equity grant valuation model during the years ended December 31, 2014 and 2013. All equity grants during these periods were restricted common shares which are valued using an intrinsic valuation method based on market price.

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information regarding stock options and SOSAR grants outstanding as of December 31, 2014:



	Weighted
	Average			Intrinsic			Intrinsic
Range of	Exercise		Grants	Value-Grants		Grants	Value-Grants
Exercise Prices	Prices		Outstanding	Outstanding		Exercisable	Exercisable
$10.40 to $11.59	$	11.14	57,000	$	—	57,000	$	—
$2.37 to $6.21	$	5.50	214,000	849,000		201,000	801,000
			271,000			258,000

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

Summarized activity of the equity compensation plans is presented below:



			Weighted
	SOSARs/		Average
	Options		Exercise Price
Outstanding, December 31, 2013	333,000		$	6.64
Granted	—		—
Exercised	(25,000	)	4.58
Expired or cancelled	(37,000	)	7.87
Outstanding, December 31, 2014	271,000		$	6.67

Exercisable, December 31, 2014	258,000		$	6.71

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity



			Weighted
			Average
	Restricted		Grant Date
	Shares		Fair Value
Outstanding, December 31, 2013	118,000		$	5.41
Granted	68,000		5.51
Dividend Equivalents	4,000		8.06
Vested	(57,000	)	5.61
Cancelled	(3,000	)	5.50
Outstanding December 31, 2014	130,000		$	5.45

Summarized activity of the Restricted Share Units for the Stock Purchase Plan is as follows:



			Weighted
			Average
	Restricted		Grant Date
	Share Units		Fair Value
Outstanding, December 31, 2013	41,000		$	5.35
Granted	25,000		5.51
Dividend Equivalents	1,000		8.15
Vested	(21,000	)	5.69
Cancelled	—		—
Outstanding December 31, 2014	46,000		$	5.35

Schedule of Auction Market Preferred Securities by Stock Series

The following table reflects activity in the Series C Preferred Stock:



Series C Preferred Stock
	2014			2013		2012
Balance at the beginning of the period	$	4,918,000		$	4,918,000	$	4,918,000
Redemption of preferred stock	(4,918,000		)	—		—
Balance at the end of the period	$	—		$	4,918,000	$	4,918,000

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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- Definition

Tabular disclosure of information pertaining to auction market preferred securities, including liquidation preference, liquidation value, par value, rate setting interval, redemption requirements, dividend distributions, roll forward of shares outstanding, shares authorized, aggregate value of auction market preferred securities, variable interest rate earned, and other information necessary to a fair presentation. If redeemable, the auction market preferred securities are redeemable solely at the option of the issuer.

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