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Share Based Payments (Tables)

6 Months Ended

Jun. 30, 2018

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, 2018:

		Number of Shares				Weighted Average Grant Date Fair Value
Nonvested options – beginning of period			431,235			$	8.22
Nonvested options granted			14,000			$	10.73
Nonvested options vested or forfeited			(13,045	)		$	7.87
Nonvested options – end of period			432,190			$	8.32

Schedule of stock options, activity

The following table summarizes stock option information as of June 30, 2018:

		Shares				Weighted Average Exercise Price
Outstanding at January 1, 2018			730,980			$	31.92
Options granted			14,000				46.44
Options forfeited			(7,140	)			37.37
Options exercised			(76,725	)			25.26
Outstanding at June 30, 2018			661,115			$	32.95
Options exercisable			228,925			$	28.19
Options available for future grants			923,125

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, 2018 and June 30, 2017 were as follows:

(In thousands)		June 30, 2018				June 30, 2017
Cash proceeds from stock options exercised		$	1,938			$	625
Tax benefits			157				135
Intrinsic value of stock options exercised			1,775				600

Schedule of valuation assumptions in Black-Scholes pricing

The assumptions used in the Black-Scholes pricing model for the periods ended June 30, 2018 and 2017 are set forth in the following table:

		June 30, 2018				June 30, 2017
Weighted average expected stock-price volatility			28	%			29	%
Weighted average expected option life			5 years				5 years
Weighted average risk-free interest rate			2.5	%			2.0	%
Weighted average dividend yield			2.0	%			2.1	%

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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2A
-Subparagraph (a)
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Tabular disclosure of the changes in outstanding nonvested shares.

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
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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.

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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.

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