Equity Incentive Plan

9 Months Ended

Sep. 30, 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 September 30, 2017, there was $6.8 million of total unrecognized compensation costs related to the outstanding restricted stock, which is expected to be recognized over a weighted average period of 3.6 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		76,099	$	48.60
Restricted stock vested		(73,273)	$	30.48
Restricted stock forfeited		(11,222)	$	39.68

Unvested restricted stock at September 30, 2017		219,136	$	38.94