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STOCK-BASED COMPENSATION PLANS | 12 Months Ended
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Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
STOCK-BASED COMPENSATION PLANS | STOCK-BASED COMPENSATION PLANS The 2013 Equity Incentive Plan (the “2013 Plan”) permits the granting of a combination of Restricted Stock awards and incentive and non-qualified stock options (“Stock Options”) to employees and directors. A total of 1.0 million shares was authorized under the Plan. Awards may be granted as either Restricted Stock or Stock Options provided that any shares that are granted as Restricted Stock are counted against the share limit set forth as (1) three for every one share of Restricted Stock granted and (2) one for every one share of Stock Option granted. As of year-end 2016, the Company had the ability to grant approximately 611 thousand shares under this plan. The 2011 Equity Incentive Plan (the “2011 Plan”) permits the granting of a combination of Restricted Stock awards and incentive and non-qualified stock options to employees and directors. A total of 1.4 million shares was authorized under the Plan. Awards may be granted as either Restricted Stock or Stock Options provided that any shares that are granted as Restricted Stock are counted against the share limit set forth as (1) three for every one share of Restricted Stock granted and (2) one for every one share of Stock Option granted. As of year-end 2016, the Company had the ability to grant approximately 12 thousand shares under this plan. A summary of activity in the Company’s stock compensation plans is shown below:
|  | Non-vested Stock Awards Outstanding |  | Stock Options Outstanding
(Shares in thousands) |  | Number of Shares |  | Weighted- Average Grant Date Fair Value |  | Number of Shares |  | Weighted- Average Exercise Price
Balance, December 31, 2015 |  | 488 |  |  | $ | 25.09 |  |  | 265 |  |  | $ | 21.11 |
Granted |  | 211 |  |  | 26.81 |  |  | — |  |  | — |
Stock options exercised |  | — |  |  | — |  |  | (151 | ) |  | 24.68 |
Stock awards vested |  | (181 | ) |  | 24.44 |  |  | — |  |  | — |
Forfeited |  | (70 | ) |  | 25.48 |  |  | — |  |  | — |
Expired |  | — |  |  | — |  |  | (5 | ) |  | 28.49 |
Balance, December 31, 2016 |  | 448 |  |  | $ | 26.28 |  |  | 109 |  |  | $ | 15.72 |
Stock Awards The total compensation cost for stock awards recognized as expense was $4.6 million, $4.7 million, and $3.8 million, in the years 2016, 2015, and 2014, respectively. The total recognized tax benefit associated with this compensation cost was $1.8 million, $1.9 million, and $1.5 million, respectively. The weighted average fair value of stock awards granted was $26.81, $26.66, and $24.60 in 2016, 2015, and 2014, respectively. Stock awards vest over periods up to five years and are valued at the closing price of the stock on the grant date. The total fair value of stock awards vested during 2016, 2015, and 2014 was $4.4 million, $3.4 million, and $2.0 million respectively. The unrecognized stock-based compensation expense related to unvested stock awards was $6.4 million as of year-end 2016. This amount is expected to be recognized over a weighted average period of two years. Option Awards Option awards are granted with an exercise price equal to the market price of the Company’s stock at the date of grant, and vest over periods up to five years. The options grant the holder the right to acquire a share of the Company’s common stock for each option held, and have a contractual life of ten years. As of year-end 2016, the weighted average remaining contractual term for options outstanding is two years. The Company generally issues shares from treasury stock as options are exercised. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model. The expected dividend yield and expected term are based on management estimates. The expected volatility is based on historical volatility. The risk-free interest rates for the expected term are based on the U.S. Treasury yield curve in effect at the time of the grant. The Company acquired options in the Beacon transaction in 2012, but did not grant additional options in 2016, 2015, or 2014. The total intrinsic value of options exercised was $879.6 thousand, $210.0 thousand, and $1.2 million for the years 2016, 2015, and 2014, respectively. There was no expense pertaining to options vesting in 2016 and 2015. The expense pertaining to options vesting in the 2014 was $41 thousand. There was no tax benefit associated with stock option expense in 2016 or 2015. The total recognized tax benefit associated with stock option expense for 2014 was $16 thousand. There was no unrecognized stock-based compensation expense related to unvested stock options as of year-ends 2016, 2015, and 2014.

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- 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 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65895303&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
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