Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The following weighted average assumptions were used to determine the fair value of the stock options granted on the original grant date for expense recognition purposes for options granted during the three months ended March 31, 2015 and 2014 using a Black Scholes Model:



	Three months ended
	March 31, 2015		March 31, 2014
Director and Officers:
Expected dividend yield	1.80	%	N/A
Expected volatility	44.14	%	N/A
Risk-free interest rate	1.96	%	N/A
Expected life (in years)	8		N/A

Employees:
Expected dividend yield	1.80	%	2.00	%
Expected volatility	44.13	%	45.73	%
Risk-free interest rate	2.08	%	2.40	%
Expected life (in years)	8		8

Summary of Stock Options Outstanding

The following is a summary of stock options vested and exercisable as of March 31, 2015:



Range of Exercise Prices	Number of Shares	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Intrinsic Value (in thousands)
$4.31-$7.18	331,944	4.04	$	5.71	$	6,246
$7.44-$8.17	15,300	6.19	7.65		258
$8.65-$23.57	152,175	6.98	8.84		2,388
Total	499,419	5.00	$	6.73	$	8,892

The following is a summary of stock options vested and exercisable as of March 31, 2014:



Range of Exercise Prices	Number of Shares	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Intrinsic Value (in thousands)
$3.21-$6.89	448,440	3.97	$	4.86	$	6,153
$7.13-$8.17	56,175	7.17	7.25		637
$8.65-$19.13	82,812	8.15	8.69		819
Total	587,427	4.87	$	5.63	$	7,609

Summary of Stock Option Activity

A summary of option activity under the plans is as follows:



Options	Shares		Weighted Average Exercise Price
Outstanding at December 31, 2014	1,235,150		$	8.16
Granted	62,605		22.93
Exercised	(189,750	)	5.69
Forfeited or Expired	(13,650	)	9.40
Outstanding at March 31, 2015	1,094,355		$	9.41
Exercisable at March 31, 2015	499,419		$	6.73

Summary of Unvested Restricted Stock Awards

A summary of the unvested restricted stock awards is as follows:




Restricted stock	Shares		Weighted Average Grant Date Fair Value
Unvested at December 31, 2014	414,846		$	16.76
Granted	78,775		21.86
Vested	(6,362	)	13.57
Forfeited	(8,223	)	19.62
Unvested at March 31, 2015	479,036		$	17.59

Summary of Grant Date Fair Value of Awards During Period

A summary of share-based compensation is as follows:



	Three months ended
	March 31, 2015		March 31, 2014
Grant date fair value of awards during the period:	(in thousands)
Options	$	657	$	120
Restricted stock	1,722		270
Total	$	2,379	$	390

Summary of Share-Based Compensation Expense



Share-based compensation expense:
Options	$	152	$	208
Restricted stock	286		204
Total	$	438	$	412

Summary of Income Tax Benefit Related to Share-Based Compensation



Income tax benefit related to share-based compensation:
Options	$	1,076	$	324
Restricted stock	22		32
Total	$	1,098	$	356