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Stock-Based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | The following table presents compensation expense and related tax benefits for all equity awards recognized in the consolidated statements of income:
| 2016 |  | 2015 |  | 2014
| (in thousands)
Compensation expense | $ | 6,556 |  |  | $ | 5,938 |  |  | $ | 5,865 |
Tax benefit | (2,679 | ) |  | (2,011 | ) |  | (1,608 | )
Stock-based compensation, net of tax | $ | 3,877 |  |  | $ | 3,927 |  |  | $ | 4,257 |
Schedule of Unrecognized Compensation Cost, Nonvested Awards | The following table presents compensation expense and related tax benefits for restricted stock awards, RSUs and PSUs recognized in the consolidated statements of income, and included as a component of total stock-based compensation in the preceding table:
| 2016 |  | 2015 |  | 2014
| (in thousands)
Compensation expense | $ | 6,165 |  |  | $ | 4,646 |  |  | $ | 4,345 |
Tax benefit | (2,158 | ) |  | (1,626 | ) |  | (1,510 | )
Restricted stock compensation, net of tax | $ | 4,007 |  |  | $ | 3,020 |  |  | $ | 2,835 |
Schedule of Share-based Compensation, Stock Options, Activity | The following table provides information about stock option activity for the year ended December 31, 2016:
| Stock Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value (in millions)
Outstanding as of December 31, 2015 | 2,980,087 |  |  | $ | 12.31 |  |  |  |  |
Exercised | (920,924 | ) |  | 11.70 |  |  |  |  |
Forfeited | (263,685 | ) |  | 14.33 |  |  |  |  |
Expired | (465,295 | ) |  | 16.19 |  |  |  |  |
Outstanding as of December 31, 2016 | 1,330,183 |  |  | $ | 10.98 |  |  | 4.7 years |  | $ | 10.4 |
Exercisable as of December 31, 2016 | 1,247,736 |  |  | $ | 10.87 |  |  | 4.5 years |  | $ | 9.9 |
Schedule of Nonvested Share Activity | The following table provides information about nonvested stock options, restricted stock, RSUs and PSUs granted under the Employee Equity Plan and Directors' Plan for the year ended December 31, 2016:
| Nonvested Stock Options |  | Restricted Stock/RSUs/PSUs
| Options |  | Weighted Average Grant Date Fair Value |  | Shares |  | Weighted Average Grant Date Fair Value
Nonvested as of December 31, 2015 | 349,852 |  |  | $ | 2.82 |  |  | 1,388,389 |  |  | $ | 12.16 |
Granted | — |  |  | — |  |  | 447,130 |  |  | 13.86 |
Vested | (247,727 | ) |  | 2.71 |  |  | (292,583 | ) |  | 11.73 |
Forfeited | (19,678 | ) |  | 2.84 |  |  | (17,221 | ) |  | 12.20 |
Nonvested as of December 31, 2016 | 82,447 |  |  | $ | 3.14 |  |  | 1,525,715 |  |  | $ | 12.74 |
Schedule Of Options Exercised | The following table presents information about stock options exercised:
| 2016 |  | 2015 |  | 2014
| (dollars in thousands)
Number of options exercised | 920,924 |  |  | 490,151 |  |  | 215,047 |
Total intrinsic value of options exercised | $ | 4,619 |  |  | $ | 1,442 |  |  | $ | 568 |
Cash received from options exercised | $ | 10,240 |  |  | $ | 4,936 |  |  | $ | 2,068 |
Tax deduction realized from options exercised | $ | 4,328 |  |  | $ | 1,389 |  |  | $ | 530 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of stock option awards under the Employee Equity Plan was estimated on the grant date using the Black-Scholes valuation methodology, which is dependent upon certain assumptions, as summarized in the table below. No options were granted in 2016 and 2015 under the Employee Equity Plan.
|  | 2014
Risk-free interest rate |  | 2.44 | %
Volatility of Corporation’s stock |  | 28.05 | %
Expected dividend yield |  | 2.36 | %
Expected life of options |  | 7 Years |
The fair value of certain PSUs with market-based performance conditions granted in 2016 under the Employee Equity Plan was estimated on the grant date using the Monte Carlo valuation methodology performed by a third-party valuation expert. This valuation is dependent upon certain assumptions, as summarized in the following table:
| 2016 |  |  | 2015 |  |  | 2014 |
Risk-free interest rate | 0.92 | % |  | 0.86 | % |  | 0.91 | %
Volatility of Corporation’s stock | 20.75 | % |  | 20.08 | % |  | 29.63 | %
Expected life of PSUs | 3 Years |  |  | 3 Years |  |  | 3 Years |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions | The following table summarizes activity under the ESPP:
| 2016 |  | 2015 |  | 2014
ESPP shares purchased | 109,665 |  |  | 121,890 |  |  | 132,640 |
Average purchase price per share (85% of market value) | $ | 12.37 |  |  | $ | 10.86 |  |  | $ | 10.31 |
Compensation expense recognized (in thousands) | $ | 240 |  |  | $ | 234 |  |  | $ | 241 |

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