XML 43 R25.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Note 18 - Equity Incentive Plans | 12 Months Ended
--- | ---
Dec. 31, 2017
Notes to Financial Statements |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 1 8 . Equity Incentive Plans In May 2015, the stockholders of the Company approved, the amended, and restated 2005 Incentive Plan which provides that 3,562,168 shares of the Company’s common stock may be granted as incentive or non-statutory stock options, or as restricted stock, or as restricted stock units. As of December 31, 2017, the only options granted by the Company under the 2005 Incentive Plan, as amended and restated, were non-statutory stock options to selected bank officers and non-employee directors at exercise prices equal to the fair market value of a share of the Company’s common stock on the date of grant. Such options have a maximum ten -year term and vest in 20% annual increments (subject to early termination in certain events) . If such options expire or terminate without having been exercised, any shares not purchased will again be available for future grants or awards. There were no options granted during the three years ended 2017. The Company expects to issue new shares to satisfy stock option exercises and the vesting of restricted stock units. Cash received from exercises of stock options totaled $1.1 million for 46,790 shares in 2017, $7.7 million for 327,830 shares in 2016, and $5.0 million for 214,580 shares in 2015. Aggregate intrinsic value for options exercised was $663,000 in 2017 compared to $4.0 million in 2016 . A summary of stock option activity for 2017, 2016, and 2015 follows:
|  |  |  |  |  |  |  |  |  | Weighted-Average |  |  | Aggregate |
|  |  |  |  |  | Weighted-Average |  |  | Remaining Contractual |  |  | Intrinsic |
|  | Shares |  |  | Exercise Price |  |  | Life (in years) |  |  | Value (in thousands) |
Balance, December 31, 2014 |  |  | 2,332,904 |  |  |  | 32.34 |  |  |  | 1.2 |  |  | $ | 1,388 |
Exercised |  |  | (214,580 | ) |  | $ | 23.37 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (1,087,154 | ) |  |  | 35.13 |  |  |  |  |  |  |  |  |
Balance, December 31, 2015 |  |  | 1,031,170 |  |  |  | 31.27 |  |  |  | 0.9 |  |  | $ | 3,268 |
Exercised |  |  | (327,830 | ) |  | $ | 23.37 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (620,670 | ) |  |  | 36.50 |  |  |  |  |  |  |  |  |
Balance, December 31, 2016 |  |  | 82,670 |  |  |  | 23.37 |  |  |  | 1.1 |  |  | $ | 1,211 |
Exercised |  |  | (46,790 | ) |  | $ | 23.37 |  |  |  |  |  |  |  |  |
Balance, December 31, 2017 |  |  | 35,880 |  |  |  | 23.37 |  |  |  | 0.1 |  |  | $ | 675 |
Exercisable, December 31, 2017 |  |  | 35,880 |  |  | $ | 23.37 |  |  |  | 0.1 |  |  | $ | 675 |
At December 31, 2017, 2 ,776,289 shares were available under the 2005 Incentive Plan for future grants. In addition to stock options, the Company also grants restricted stock units to eligible employees which vest subject to continued employment at the vesting dates. The Company granted restricted stock units for 87,781 shares at an average closing price of $38.59 per share in 2017 , 88 ,693 shares at an average closing price of $30.37 per share in 2016 , and for 72,900 shares at an average closing price of $28.11 per share in 2015. The restricted stock units granted are scheduled to vest three years from grant date. In December 2013, the Company granted performance share unit awards in which the number of units earned is calculated based on the relative total shareholder return (“TSR”) of the Company’s common stock as compared to the TSR of the KBW Regional Banking Index. In addition, the Company granted performance share unit awards in which the number of units earned is determined by comparison to the targeted EPS as defined in the award for the 2014 to 2016 period. In December 2016, in addition to TSR and EPS awards, the Company granted performance share unit awards in which the number of units earned is determined by comparison to the targeted return of assets ROA as defined in the award for December 2016. Performance TSR restricted stock units for 119,840 shares and performance EPS restricted stock units for 116,186 shares were granted to eight executive officers in 2013. In December 2014, the Company granted additional performance TSR restricted stock units for 60,456 shares and performance EPS restricted stock units for 57,642 shares were granted to seven executive officers. In December 2015, the Company granted additional performance TSR restricted stock units for 61,209 shares and performance EPS restricted stock units for 57,409 shares were granted to seven executive officers. In December 2016, the Company granted additional performance TSR restricted stock units for 30,319 shares, performance EPS restricted stock units for 58,241 shares, and performance ROA restricted stock units for 29,119 shares were granted to seven executive officers. In December 2017, the Company granted additional performance TSR restricted stock units for 23 ,556 shares and performance ROA restricted stock units for 22,377 shares to six executive officers. Performance TSR, performance EPS , and performance ROA share awarded are scheduled to vest three years from grant date. The following table pres ents restricted stock unit activity for 2017, 2016, and 2015:
|  | Units |
Balance at December 31, 2014 |  |  | 386,465 |
Granted |  |  | 191,518 |
Vested |  |  | (26,924 | )
Cancelled or forfeited |  |  | (8,684 | )
Balance at December 31, 2015 |  |  | 542,375 |
Granted |  |  | 206,372 |
Vested |  |  | (13,780 | )
Cancelled or forfeited |  |  | (7,548 | )
Balance at December 31, 2016 |  |  | 727,419 |
Granted |  |  | 247,045 |
Vested |  |  | (395,502 | )
Cancelled or forfeited |  |  | (17,352 | )
Balance at December 31, 2017 |  |  | 561,610 |
All awards are deemed probable of issuance and t he compensation expense recorded for restricted stock units was $5.2 million in 2017, $4.4 million in 2016 , and $4.5 million in 2015 . Unrecognized stock-based compensation expense related to restricted stock units was $9.5 million at December 31, 2017, and is expected to be recognized over the next two years. The Company adopted ASU 2016 - 09 in 2017 where all excess tax benefits and tax deficiencies from share based payments are recognized as income tax expense or benefit in the income statement instead of the previous accounting which credited excess tax benefits to additional paid-in capital and tax deficiencies as a charge to income tax expense or as an offset to accumulated excess tax benefits, if any. In 2015, the Company recognized a short-fall of tax deductions in excess of grant-date fair value of $5.4 million and a benefit of tax deductions on grant-date fair value of $6.5 million for a total benefit of tax deductions of $1.1 million.

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration