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Share-Based Payments (Tables)

6 Months Ended

Jun. 30, 2016

Schedule of Nonvested Share Activity [Table Text Block]

The following table sets forth information with respect to nonvested options for the six month period ended June 30, 2016:

	Number of Shares		Weighted Average Grant Date Fair Value
Nonvested options – beginning of period		414,850	$	6.86
Nonvested options granted		5,000	$	6.50
Nonvested options vested or forfeited		(20,350)	$	6.82
Nonvested options – end of period		399,500	$	6.85

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The following table summarizes stock option information as of June 30, 2016:

	Shares		Weighted Average Exercise Price

Outstanding at January 1, 2016		709,300	$	24.34
Options granted		5,000		26.40
Options cancelled		(15,020)		27.30
Options exercised		(21,050)		19.08

Outstanding at June 30, 2016		678,230	$	24.45

Options exercisable		278,730	$	22.13
Options available for future grants		188,065

Schedule of Cash Proceeds Received from Share-based Payment Awards [Table Text Block]

Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the six months ended June 30, 2016 and June 30, 2015 were as follows:

(In thousands)	June 30, 2016		June 30, 2015

Cash proceeds from stock options exercised	$	402	$	428
Tax benefits		--		--
Intrinsic value of stock options exercised		233		462

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The assumptions used in the Black-Scholes pricing model for the periods ended June 30, 2016 and 2015 are set forth in the following table:

	June 30, 2016			June 30, 2015

Weighted average expected stock-price volatility		33	%		34	%
Weighted average expected option life		5 years			5 years
Weighted average risk-free interest rate		1.42	%		1.28	%
Weighted average dividend yield		2.2	%		1.8	%