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Equity Incentive Plan
 3 Months Ended
Mar. 31, 2017
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 March 31, 2017, there was $8.3 million of total unrecognized compensation costs related to the outstanding restricted stock, which is expected to be recognized over a weighted average period of 3.8 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:
 
 
 
 
Weighted Average
 
 
Shares
 
Grant Date
 
 
Outstanding
 
Fair Value
 
 
 
 
 
 
Unvested restricted stock at December 31, 2016
 
227,532
 
$
33.02
 
 
 
 
 
 
 
 
Restricted stock granted
 
75,038
 
$
48.62
 
Restricted stock vested
 
(72,673)
 
$
30.47
 
Restricted stock forfeited
 
-
 
 
 
 
 
 
 
 
 
 
 
Unvested restricted stock at March 31, 2017
 
229,897
 
$
38.92