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Equity Incentive Plan
 6 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
Note 10 – Equity Incentive Plan
 
The Company estimates the fair value of restricted stock grants at the date of grant and amortizes those amounts into expense on a straight line basis or amount vested, if greater, over the appropriate vesting period.
 
As of June 30, 2016, there was $5.9 million of total unrecognized compensation costs related to the outstanding restricted stock, which is expected to be recognized over a weighted average period of 3.5 years. The Company used 0% for both the discount factor and forfeiture rate for determining the fair value of restricted stock .
 
The holder of a restricted stock award is generally entitled at all times on and after the date of issuance of the restricted shares to exercise the rights of a stockholder of the Company, including the right to vote the shares and the right to receive dividends on the shares.
 
Restricted stock activity is summarized as follows:
 
 
 
Shares
Outstanding
 
Weighted Average
Grant Date
Fair Value
 
 
 
 
 
 
 
 
 
Unvested restricted stock at December 31, 2015
 
 
212,943
 
$
29.07
 
 
 
 
 
 
 
 
 
Restricted stock granted
 
 
83,458
 
$
36.65
 
Restricted stock vested
 
 
(68,574)
 
$
26.87
 
Restricted stock forfeited
 
 
(6,577)
 
$
35.58
 
 
 
 
 
 
 
 
 
Unvested restricted stock at June 30, 2016
 
 
221,250
 
$
32.40