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Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Changes in Company's Nonvested Restricted Stock Awards

A summary of changes in the Company’s nonvested Restricted Stock Awards (“RSAs”) under the Omnibus Incentive Plan for the year ended December 31, 2017 were as follows:

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

Grant Date

 

Nonvested RSAs

 

Shares

 

 

Fair Value

 

Nonvested at January 1, 2017

 

 

126,644

 

 

$

14.92

 

Granted

 

 

45,732

 

 

 

25.80

 

Vested

 

 

(67,964

)

 

 

16.50

 

Forfeited

 

 

(1,636

)

 

 

16.61

 

Nonvested at December 31, 2017

 

 

102,776

 

 

$

18.68

 

 

Summary of Changes in Company's Stock Options

A summary of changes in the Company’s stock options under the Omnibus Incentive Plan for the year ended December 31, 2017 were as follows:

 

 

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

 

Aggregate

 

 

 

 

 

 

 

Weighted Average

 

 

Contractual Term

 

 

Intrinsic Value

 

Stock Options

 

Shares

 

 

Exercise Price

 

 

(In Years)

 

 

(In Thousands)

 

Outstanding at January 1, 2017

 

 

163,661

 

 

$

15.87

 

 

 

 

 

 

 

 

 

Granted

 

 

58,729

 

 

 

25.80

 

 

 

 

 

 

 

 

 

Exercised

 

 

(34,977

)

 

 

15.87

 

 

 

 

 

 

 

 

 

Forfeited or expired

 

 

(2,085

)

 

 

19.69

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2017

 

 

185,328

 

 

$

18.97

 

 

$

8.57

 

 

$

2,321

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fully vested shares and shares expected to vest at December 31, 2017

 

 

185,328

 

 

$

18.97

 

 

 

8.57

 

 

$

2,321

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares exercisable at December 31, 2017

 

 

31,742

 

 

$

15.87

 

 

$

8.25

 

 

$

496

 

 

Schedule of Information Related to Stock Options

 

Year Ended December 31,

 

(Dollars in thousands, except per share amounts)

 

2017

 

 

2016

 

Aggregate intrinsic value of options exercised

 

$

251

 

 

$

 

Cash received from option exercises

 

$

283

 

 

$

 

Tax benefit realized from option exercises

 

$

88

 

 

$

 

Weighted average fair value of options granted

 

$

8.71

 

 

$

5.85

 

 

Fair Value of Stock Options Granted Weighted-Average Assumptions

The fair value of the stock options granted was determined using the following weighted average assumptions:

 

2017

 

 

2016

 

Risk-free interest rate

 

 

2.11

%

 

 

1.49

%

Expected term

 

6.25 Years

 

 

6.25 Years

 

Expected stock price volatility

 

 

29.70

%

 

 

34.96

%

Dividend yield