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Share-Based Payments (Tables)

6 Months Ended

Jun. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of nonvested share activity

The following table sets forth information with respect to nonvested options for the six month period ended June 30, 2017:

		Number of Shares				Weighted Average Grant Date Fair Value
Nonvested options – beginning of period			401,440			$	7.14
Nonvested options granted			5,000			$	7.67
Nonvested options vested or forfeited			(14,105	)		$	6.92
Nonvested options – end of period			392,335			$	7.15

Schedule of stock options, activity

The following table summarizes stock option information as of June 30, 2017:

		Shares				Weighted Average Exercise Price
Outstanding at January 1, 2017			684,540			$	26.94
Options granted			5,000				33.95
Options forfeited			(7,960	)			29.74
Options exercised			(33,590	)			18.62
Outstanding at June 30, 2017			647,990			$	27.39
Options exercisable			255,655			$	24.94
Options available for future grants			1,082,615

Schedule of cash proceeds received from share-based payment awards

Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the six months ended June 30, 2017 and June 30, 2016 were as follows:

(In thousands)		June 30, 2017				June 30, 2016
Cash proceeds from stock options exercised		$	625			$	402
Tax benefits			135				—
Intrinsic value of stock options exercised			600				233

Schedule of valuation assumptions in Black-Scholes pricing

The assumptions used in the Black-Scholes pricing model for the periods ended June 30, 2017 and 2016 are set forth in the following table:

		June 30, 2017				June 30, 2016
Weighted average expected stock-price volatility			29	%			33	%
Weighted average expected option life			5 years				5 years
Weighted average risk-free interest rate			2.0	%			1.42	%
Weighted average dividend yield			2.1	%			2.2	%

X

- Definition

Tabular disclosure of cash received from exercise of stock options and similar instruments granted under share-based payment arrangements and tax benefit from exercise of stock options.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=96867065&loc=SL79508275-113901

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- Definition

Tabular disclosure of the changes in outstanding nonvested shares.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901

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