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Employee Benefit Plans (Tables)
3 Months Ended
Mar. 31, 2015
Share-based Compensation [Abstract]  
Summary Of Stock Option Activity
A summary of the Company’s stock option activity and related information is presented below:
 
Three months ended March 31,
 
2015
 
2014
Options
 
Weighted-Average Exercise Price
 
Options
 
Weighted-Average Exercise Price
Outstanding at January 1
167,554

 
$
36.74

 
173,601

 
$
35.26

Granted
12,961

 
46.41

 
13,953

 
44.43

Exercised
(28,500
)
 
34.40

 
(7,000
)
 
28.39

Forfeited

 

 

 

Outstanding at March 31
152,015

 
$
38.01

 
180,554

 
$
36.23

Stock Options Outstanding And Exercisable
Additional information regarding stock options outstanding and exercisable at March 31, 2015, is provided in the following table:
Ranges of Exercise Prices
No. of Options Outstanding
Weighted-Average Exercise Price
Weighted-Average Remaining Contractual Life (Years)
Aggregate Intrinsic Value (in thousands)
No. of Options Currently Exercisable
Weighted-Average Exercise Price of Options Currently Exercisable
Weighted-Average Remaining Contractual Life (Years)
Aggregate Intrinsic Value of Options Currently Exercisable (in thousands)
25.00 - 29.99
2,250

28.54

2.2
$
40

2,250

$
28.54

2.2
$
40

30.00 - 34.99
24,000

31.76

4.0
355

24,000

31.76

4.0
355

35.00 - 39.99
90,351

37.44

4.6
822

42,000

39.04

1.8
315

40.00 - 44.99
22,453

43.09

6.7
77

8,500

40.88

3.0
48

45.00 - 50.00
12,961

46.41

9.9
2



0.0

 
152,015

 
 
$
1,296

76,750

 
 
$
758

Weighted Average Assumptions Estimate The Fair Value Of Options Granted
 The following weighted average assumptions were used to estimate the fair value of options granted:

 
Three months ended March 31,
 
2015
 
2014
Risk-free interest rate
1.95
%
 
2.42
%
Expected dividend yield
3.50
%
 
3.60
%
Volatility factor
45.40
%
 
48.75
%
Expected life of option
7.0 years

 
8.0 years

Restricted Shares Activity And Related Information
A summary of the Company’s restricted shares activity and related information is presented below:
 
Three months ended March 31,
 
2015
 
2014
Restricted Awards
 
Average Market Price at Grant
 
Restricted Awards
 
Average Market Price at Grant
Outstanding at January 1
163,431

 
 
 
142,469

 
 
Granted
23,640

 
$
46.29

 
24,262

 
$
44.47

Forfeited/Vested
(9,950
)
 
 

 
(6,200
)
 
 

Outstanding at March 31
177,121

 
 

 
160,531

 
 

Net Periodic Pension Cost Of The Defined Benefit Plan
The following table presents the components of the net periodic pension cost of the Defined Benefit Plans (in thousands):

 
Three months ended March 31,
2015
 
2014
Components of net periodic cost:
 
 
 
Interest cost
$
261

 
$
217

Expected return on plan assets
(288
)
 
(276
)
Net amortization and deferral
227

 
238

Net Periodic Pension Cost
$
200

 
$
179