Stock Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2013

Weighted-Average Assumptions used to Estimate Fair Value of Options Granted

The fair value for options granted in 2013, 2012 and 2011 was estimated at the date of grant using a multiple point Black-Scholes option pricing model. The following weighted-average assumptions were used:

	2013	2012			2011
Risk-free interest rate	0.75%		0.81	%		1.92	%
Expected life of option	4.87 yrs.		4.85 yrs.			4.70 yrs.
Expected dividend yield	1.73%		2.28	%		2.34	%
Expected volatility	24.65%		28.46	%		26.82	%

Weighted-Average Assumptions used to Estimate Fair Value of Non-Vested Shares Granted

The fair value for non-vested shares granted in 2013, 2012 and 2011 was estimated at the date of grant based on the market price for the underlying stock on the grant date discounted for the risk free interest rate and the present value of expected dividends over the vesting period. The following weighted-average assumptions were used:

	2013	2012			2011
Risk-free interest rate	0.36%		0.37	%		1.04	%
Expected dividend yield	1.71%		2.24	%		2.34	%

Summary of Stock Option Activity

The following table summarizes the option activity during 2013:

	Shares Subject to Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life In Years		Aggregate Intrinsic Value
								(Dollars in thousands)
Outstanding, beginning of the year		1,084,193		$	58.43
Granted		417,484			79.37
Exercised		(157,545	)		57.16
Forfeited or expired		(64,652	)		65.79
Outstanding, end of the year		1,279,480			65.05		7.1	$	36,900
Exercisable, end of the year		652,431		$	59.31		5.7	$	22,543

Summary of Non-Vested Restricted Stock Unit Activity

The following table summarizes the non-vested restricted stock unit activity during 2013:

	Number of Non-Vested Shares			Weighted Average Grant-Date Fair Value		Weighted Average Remaining Contractual Life In Years	Aggregate Intrinsic Value
							(Dollars in thousands)
Outstanding, beginning of the year		364,788		$	55.77
Granted		148,191			75.60
Vested		(99,666	)		63.01
Forfeited		(59,956	)		59.87
Outstanding, end of the year		353,357			62.49	1.3	$	33,166