Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2016

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, 2016 and 2015 using a Black Scholes Model:



	Three months ended
	March 31, 2016			March 31, 2015
Director and Officers:
Expected dividend rate	$	0.22		$	0.18
Expected volatility	42.38		%	44.14		%
Risk-free interest rate	2.02		%	1.96		%
Expected life (in years)	8			8

Employees:
Expected dividend rate	$	0.22		$	0.18
Expected volatility	42.34		%	44.13		%
Risk-free interest rate	2.03		%	2.08		%
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, 2016:



Range of Exercise Prices	Number of Shares	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Intrinsic Value (in thousands)
$4.31-$8.65	317,618	4.99	$	7.34	$	6,563
$8.70-$22.76	32,987	7.59	15.95		398
$23.57-$25.84	7,664	8.91	23.57		34
Total	358,269	5.31	$	8.48	$	6,995

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

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, 2015	1,130,910		$	13.38
Granted	81,400		21.85
Exercised	(107,945	)	6.57
Forfeited or Expired	(20,132	)	17.22
Outstanding at March 31, 2016	1,084,233		$	14.63
Exercisable at March 31, 2016	358,269		$	8.48

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, 2015	410,023		$	18.78
Granted	91,385		20.78
Vested	(22,237	)	19.51
Forfeited	(5,740	)	18.53
Unvested at March 31, 2016	473,431		$	19.13

Summary of Grant Date Fair Value of Awards During Period

A summary of share-based compensation is as follows:



	Three months ended
	March 31, 2016		March 31, 2015
Grant date fair value of awards during the period:	(in thousands)
Options	$	780	$	657
Restricted stock	1,899		1,722
Total	$	2,679	$	2,379

Summary of Share-Based Compensation Expense



Share-based compensation expense:
Options	$	337	$	152
Restricted stock	611		286
Total	$	948	$	438

Summary of Income Tax Benefit Related to Share-Based Compensation



Income tax benefit related to share-based compensation:
Options	$	713	$	1,076
Restricted stock	32		22
Total	$	745	$	1,098