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Stock Options (Tables)
12 Months Ended
Dec. 31, 2017
Stock Options  
Schedule of Black-Scholes-Merton option valuation model assumptions

 

 

 

 

 

 

 

    

2017 (1)

    

2016

 

Expected Life (Years)

 

 —

 

7.61

 

Dividend yield

 

 —

%  

2.50

%

Interest rate

 

 —

%  

1.50

%

Volatility

 

 —

%  

41.32

%

 

 

 

 

 

 

(1)

No stock options were granted during the twelve months ended December 31, 2017.

 

 

 

 

Summary of option activity under stock option plans

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

 

 

    

Weighted

    

    

 

 

 

 

 

 

Weighted

 

average

 

 

 

 

 

 

 

 

average

 

remaining

 

Aggregate

 

 

 

Number of

 

exercise

 

contractual

 

intrinsic

 

 

 

options

 

price

 

term (years)

 

value ($)

 

 

 

 

 

 

 

 

 

 

(in Thousands)

 

Options outstanding at December 31, 2016

 

800,502

 

$

19.43

 

 

 

 

 

 

Plus: Options granted

 

 —

 

 

 —

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Options exercised

 

108,885

 

 

13.34

 

 

 

 

 

 

Options expired

 

2,188

 

 

10.40

 

 

 

 

 

 

Options forfeited

 

21,263

 

 

20.62

 

 

 

 

 

 

Options outstanding at December 31, 2017

 

668,166

 

 

20.41

 

5.54

 

$

12,887

 

 

 

 

 

 

 

 

 

 

 

 

 

Options fully vested and exercisable at December 31, 2017

 

283,472

 

$

18.62

 

4.46

 

$

5,975

 

 

Schedule of other information pertaining to option activity

 

 

 

 

 

 

 

 

 

 

 

 

 

Twelve Months Ended December 31,

 

 

 

2017(1)

 

2016

 

2015

 

Weighted average grant date fair value of stock options granted 

    

$

 —

    

$

8.74

    

$

9.42

 

Total fair value of stock options vested

 

$

1,182,000

 

$

1,015,000

 

$

872,000

 

Total intrinsic value of stock options exercised

 

$

2,595,000

 

$

792,000

 

$

781,000

 

 

 

 

 

 

 

 

 

 

 

 

(1)

No stock options were granted during the twelve months ended December 31, 2017.