Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2012

Compensation Expense Included In Salaries And Employee Benefits Expense And Related Income Tax Benefits

The following table represents the compensation expense that is included in salaries and employee benefits expense and related income tax benefits in the accompanying consolidated statements of comprehensive income related to stock options for the years indicated below.

(Dollars in thousands, except per share data)	2012		2011		2010
Compensation expense related to stock options	$	1,873	$	1,343	$	1,301
Income tax benefit related to stock options		656		470		455
Impact on basic earnings per share		0.04		0.03		0.03
Impact on diluted earnings per share		0.04		0.03		0.03

Estimate Fair Value Of Share-Based Awards With Weighted-Average Assumptions

The Company uses the Black-Scholes option pricing model to estimate the fair value of share-based awards. The following weighted-average assumptions were used for option awards granted during the years ended December 31^st of the periods indicated:

	2012			2011			2010
Expected dividends		2.7	%		2.4	%		2.3	%
Expected volatility		40.1	%		35.5	%		39.3	%
Risk-free interest rate		0.8	%		1.5	%		2.3	%
Expected term (in years)		5.0			4.0			5.0
Weighted-average grant-date fair value	$	14.50		$	12.83		$	18.11

Activity Related To Stock Options

The following table represents the activity related to stock options during the periods indicated.

	Number of shares			Weighted average exercise price		Weighted average remaining contract life
Outstanding options, December 31, 2009		1,259,874		$	43.05
Granted		120,866			59.67
Exercised		(69,057	)		23.62
Forfeited or expired		(10,144	)		56.57
Outstanding options, December 31, 2010		1,301,539		$	45.52
Granted		55,121			55.15
Issued in connection with acquisition		41,975			72.35
Exercised		(264,647	)		30.99
Forfeited or expired		(36,368	)		57.51
Outstanding options, December 31, 2011		1,097,620		$	50.14
Granted		230,665			51.69
Issued in connection with acquisition		32,863			41.30
Exercised		(92,092	)		30.43
Forfeited or expired		(32,981	)		56.79
Outstanding options, December 31, 2012		1,236,075		$	51.48	4.7 Years
Outstanding exercisable at December 31, 2010		938,532		$	41.12
Outstanding exercisable at December 31, 2011		789,952		$	47.64
Outstanding exercisable at December 31, 2012		792,444		$	50.05	3.0 Years

Schedule Of Weighted Average Remaining Life Of Options Outstanding Within Stated Exercise Prices

The following table presents weighted average remaining life as of December 31, 2012 for options outstanding within the stated exercise prices:

		Options Outstanding					Options Exercisable
Exercise Price Range Per Share		Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Life	Number of Options		Weighted Average Exercise Price
$	26.82 to $45.58		207,728	$	38.74	1.5 years		205,871	$	38.71
$	45.59 to $48.35		202,608		46.85	2.4 years		188,217		46.85
$	48.36 to $51.69		188,368		50.13	6.0 years		81,276		49.08
$	51.70 to $55.42		212,953		53.22	8.2 years		51,946		54.43
$	55.43 to $58.34		209,705		56.97	4.9 years		130,710		57.28
$	58.35 to $111.71		214,713		62.30	5.4 years		134,424		63.74
	Total options		1,236,075	$	51.48	4.7 years		792,444	$	50.05

Compensation Expense Included In Salaries And Employee Benefits Expense Related To Restricted Stock Grants

The following table represents the compensation expense that was included in salaries and employee benefits expense in the accompanying consolidated statements of income related to restricted stock grants for the years ended December 31:

(Dollars in thousands)	2012		2011		2010
Compensation expense related to restricted stock	$	7,582	$	6,784	$	6,187

Unvested Restricted Stock Award Activity

The following table represents unvested restricted stock award activity for the years ended December 31:

	2012			2011			2010
Balance, beginning of year		512,112			539,195			550,518
Granted		176,669			139,509			122,123
Forfeited		(13,164	)		(35,823	)		(8,933	)
Earned and issued		(137,415	)		(130,769	)		(124,513	)
Balance, end of year		538,202			512,112			539,195

Schedule Of Share And Dividend Equivalent Share Award Activity

The following table represents phantom stock award activity during the periods indicated. During the years ended December 31, 2012, 2011, and 2010, the Company recorded $2,185,000, $1,368,000 and $381,000, respectively, in compensation expense based on the number of share equivalents vested at the end of the period and the current market price of the Company’s stock.

	Number of share equivalents			Dividend equivalents			Total share equivalents			Value of  share equivalents(1)
Balance, December 31, 2009		67,361			1,886			69,247			3,726,000
Granted		58,124			2,847			60,971			3,605,000
Forfeited share equivalents		(1,250	)		(9	)		(1,259	)		74,000
Vested share equivalents		(5,041	)		(983	)		(6,024	)		356,000
Balance, December 31, 2010		119,194			3,741			122,935		$	7,269,000
Granted		131,099			6,152			137,251			6,766,000
Forfeited share equivalents		(5,917	)		(179	)		(6,096	)		301,000
Vested share equivalents		(11,455	)		(772	)		(12,227	)		622,000
Balance, December 31, 2011		232,921			8,942			241,863		$	11,924,000
Granted		119,038			9,152			128,190			6,297,000
Forfeited share equivalents		(10,949	)		(367	)		(11,316	)		556,000
Vested share equivalents		(22,281	)		(1,692	)		(23,973	)		1,180,000
Balance, December 31, 2012		318,729			16,035			334,764		$	16,444,000

(1) Except for vested share payments, which are based on the cash paid at the time of vesting, the value of share equivalents is calculated based on the market price of the Company’s stock at the end of the respective periods. The market price of the Company’s stock was $49.12, $49.30, and $59.13 on December 31, 2012, 2011, and 2010, respectively.